Regional news: Asia-Pacific
Sidley and Linklaters take roles as Sunac strikes deal with creditors
Chinese real estate developer Sunac China Holdings has entered a restructuring support agreement with an ad hoc group of offshore creditors to deal with US$9 billion of debt.
29 March 2023
HSF launches Singapore disputes group with Morgan Lewis hires
The leader of Morgan Lewis’ Asia disputes group, who has credits on the Noble and Zipmex restructurings, is leaving the firm with three colleagues to launch a new litigation practice at Herbert Smith Freehills in Singapore.
28 March 2023
INSOL International, New Delhi: does Instagram make asset tracing easier?
Is the current class of unscrupulous businessmen and women worried more about likes than the law? At INSOL International’s first in-person event in India since the start of the covid pandemic, practitioners discussed cross-border asset tracing in India and whether discretion is a dying art among fraudsters.
27 March 2023
Evergrande finally unveils restructuring plan with support from ad-hoc group
Chinese real estate behemoth Evergrande has unveiled a long-awaited restructuring plan targeting offshore notes worth around US$19 billion, which has secured the support of an ad hoc group of creditors advised by Harneys and Kirkland & Ellis.
23 March 2023
Evergrande reaches deal with offshore bondholders
The Hong Kong High Court has adjourned a winding up petition against Chinese real estate giant Evergrande for the third time, after the group revealed it has reached a restructuring deal with its offshore bondholders.
20 March 2023
India's foreign lawyer rule change offers “significant opportunities” in restructuring space
Lawyers in India and further afield tell GRR the country’s decision to open its legal market to foreign law firms and practitioners will present opportunities in the restructuring space and will prove to be a “boon” for India’s insolvency industry.
20 March 2023
Former Baccarat owner fails to annul Hong Kong bankruptcy
The former owner of French luxury crystal manufacturer Baccarat has been rebuked by a Hong Kong court for failing to comply with a bankruptcy order and offering “incredible” explanations for her conduct.
14 March 2023
Norton Rose Fulbright adds from Clifford Chance in Japan
Norton Rose Fulbright has added a new partner in Tokyo from Clifford Chance, allowing the firm to offer Japanese law advice for the first time.
01 March 2023
3AC liquidators obtain extra-territorial summoning order for fund’s directors
Crypto hedge fund Three Arrows Capital’s liquidators have secured what is thought to be the first extra-territorial summoning order from a British Virgin Islands courts for the private examination of the fund’s truant directors.
01 March 2023
One is better than three: Singapore court rejects JM appointments
An international logistics group’s founder and creditor have failed to persuade a Singapore court to appoint judicial managers on top of receivers allegedly acting in the interests of its bondholders, after the court found it was hard to see the advantage in having three sets of insolvency professionals instead of one.
24 February 2023