Worked Out
GRR surveys individual countries’ cross-border restructuring and insolvency regimes to bring you everything you need to know about operating there – including the key players in the market.

Indonesia

An unpredictable landscape

Forged in the fires of the Asian financial crisis, Indonesia’s bankruptcy law has some surprising idiosyncrasies and encourages a restructuring culture defined by pragmatism and flexibility. In other words, it doesn’t look like any other bankruptcy law in the world.

There’s always a deal to be done: conflict and cooperation in Indonesia

Indonesia’s bankruptcy law provides remarkable latitude for workouts, so long as they can get creditor support – but the efforts to reach those compromises can see both sharp practices and consensual negotiation.

Try to be good – avoiding corruption in Indonesia’s restructurings

Indonesia has a reputation for casual corruption, allied with a court system riddled with inefficiencies both innocent and malign. That has scared off a lot of non-Indonesians from entering the country – but it isn’t difficult for practitioners, especially on the corporate side, to build a successful practice with clean hands.

Names to know in Indonesia

To be successful in Indonesia, relationships are everything. GRR presents a guide to the firms and individuals it’s essential to know in Indonesia’s restructuring market.

China and Hong Kong

Changes, hopes and fears: China and Hong Kong Worked Out

GRR presents the latest in our Worked Out series, this time profiling China and Hong Kong. With headwinds including an extraordinary non-performing loan load, slowing growth, political tensions locally, and a trade war with the US, restructuring professionals in China and Hong Kong are getting ready for what’s around the corner.

China and Hong Kong Worked Out: Changes, hopes and fears in China

The past five years have seen a shift in Chinese restructuring practice with the concept of reorganisation increasingly being seen as a business tool, rather than an admission of failure. But practitioners say there’s still a way to go, pointing out that creditors’ rights need to be strengthened, and personal bankruptcy remains entirely uncatered for.

China and Hong Kong Worked Out: Restructuring and the State

In China, more so than in other jurisdictions, it’s impossible to avoid the government for a restructuring of any significance – particularly municipal and local government. That’s not going to alter any time soon, but government attitudes towards company failure and restructuring are changing.

China and Hong Kong Worked Out: Night of the living debt

Despite the growing power of the Chinese economy, its prodigious load of non-performing loans is posing both challenges and opportunities for local restructuring practitioners.

China and Hong Kong Worked Out: Headwinds and opportunities in China

As a trade war with the US puts a squeeze on many Chinese industries, the government is pursuing a US$1 trillion-plus global investment project set to dramatically expand its cross-border engagement. Is this a perfect storm for the cross-border restructuring market?

“Things have worked because they had to”: restructuring without a regime in Hong Kong

Part of our "China and Hong Kong Worked Out" series: Hong Kong’s restructuring practitioners are, by necessity, creative. Without a restructuring and insolvency regime beyond the scheme of arrangement inherited from the British, practitioners have a “make-do-and-mend” approach aided by a supple judiciary and a can-do attitude among professionals.

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