Regional news: Asia-Pacific

Irish lessors lose latest round in fight to overturn Garuda’s restructuring plan

Two Irish lessors fighting the US$9.5 billion restructuring of Indonesia’s national airline have failed to wind up the company in Australia after a judge in Sydney found it is "immune" from the jurisdiction of the Australian courts.

28 November 2022

Evergrande restructuring plan expected by March 2023

A Hong Kong court has further adjourned the hearing of a winding up petition against Chinese property developer Evergrande on the assurance that the group will provide a restructuring plan for creditors by March next year.

28 November 2022

Kirkland, BlackOak advising NASDAQ-listed Binance partner in Singapore-led restructuring

Updated: Singapore-incorporated, NASDAQ-listed digital asset services firm Eqonex has tapped legal counsel from Kirkland & Ellis and boutique firm BlackOak to advise it on a local debt restructuring, as other entities in the group enter voluntary liquidation in the Lion City and Hong Kong.

25 November 2022

3AC’s liquidators seek Cayman recognition, secure protocol in Singapore

The British Virgin Islands joint liquidators of cryptocurrency hedge fund Three Arrows Capital have sought recognition of their appointments in the Cayman Islands, as a Singapore court ratified a protocol that lays out guidelines for cooperation between the BVI, Singapore and US courts overseeing the fund’s insolvency proceedings.

24 November 2022

PwC appointed trustee for sale of bankrupt Hong Kong businessman’s Australian property

A bankrupt businessman’s Hong Kong trustees have won the right appoint their Australian colleagues to sell a property he co-owns in New South Wales, but failed to convince the court to grant them leave to file an amended summons to recoup possible repair costs from the other owner.

24 November 2022

Omni Bridgeway recruits Stephenson Harwood partner in Hong Kong

Australia-headquartered litigation funder Omni Bridgeway has boosted its offering in Asia with the hire of one of GRR’s recently named “40 under 40” from Stephenson Harwood in Hong Kong.

23 November 2022

SGRI, Singapore: Sontchi on 16 years on the Delaware bankruptcy bench

Closing the Singapore Global Restructuring Initiative’s inaugural conference, Judge Christopher Sontchi provided 16 observations from his 16 years on the Delaware bankruptcy bench, saying judges will only ever know “a small fraction” of the truth and settlements are “almost always” better than court decisions.

18 November 2022

KordaMentha, King & Wood Mallesons hired for Deliveroo Australia’s administration

Deliveroo’s Australian operating subsidiary has entered voluntary administration appointing a team from KordaMentha advised by King & Wood Mallesons, in a case that could raise interesting questions for tech companies with non-physical assets.

17 November 2022

IWIRC reveals Asia Women of the Year for 2022

The International Women's Insolvency and Restructuring Confederation has named Alvarez & Marsal managing director Tiffany Wong its Asia Woman of the Year in Restructuring for 2022.

16 November 2022

III & ABLI launch new guide on treatment of insolvent MSEs in Asia

Two international insolvency organisations have launched a new guide on the treatment of insolvent micro and small enterprises in Asia, aiming to plug a gap in the legislative regimes of many Asian jurisdictions.

16 November 2022

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