Regional news: Asia-Pacific

Guernsey liquidators secure court’s “blessing” for Georgian oil group sale

A Guernsey court has approved the sale of an insolvent Georgian oil group, dismissing accusations that its liquidators sought to shed responsibility for a deal that did not benefit creditors.

09 November 2020

Indonesian property group secures Singapore moratorium with noteholder carve-out

A Singapore court has granted a moratorium to Indonesian real estate group Modernland Realty, approving a carve-out on its extra-territorial effect on noteholders.

06 November 2020

AirAsia X reshuffles classes after scheme challenges in court

Malaysian low-cost airline AirAsia X has revised its proposed scheme of arrangement to split creditors into two classes, after concerns were raised in Kuala Lumpur's High Court.

06 November 2020

Cayman court appoints “soft-touch” JPLs to block Hong Kong winding-up

A Cayman court has accepted a Chinese plastic manufacturer’s request to enter provisional liquidation on a “soft-touch” basis, so that it could see off official liquidation in Hong Kong.

05 November 2020

English court sanctions KCA Deutag’s scheme

International oil and gas services company KCA Deutag has secured court sanction of its English scheme, which its lawyers say is likely to be given effect in Russia, Oman, Norway, Germany and the US.

05 November 2020

Privy Council winds-up BVI company on deadlock grounds

The UK Privy Council has wound-up a BVI holding company due to a “functional deadlock” in its management, finding the order could be made regardless of whether the company constituted a quasi-partnership.

02 November 2020

Indian software company files voluntary Chapter 11

An Indian IT company has placed six of its subsidiaries in voluntary Chapter 11 bankruptcies in Alabama, after creditor-driven proceedings filed against it in Mumbai were stalled.

30 October 2020

Latham & Watkins announces January promotions

Latham & Watkins has announced promotions for two members of its restructuring and special situations group in London and Hamburg, as five other lawyers with relevant experience are also elevated across the firm.

30 October 2020

Hong Kong court allows Shandong Shanshui employees to pursue EY receivers

Five employees of China’s Shandong Shanshui Cement Group have won retrospective permission to bring claims against receivers from EY, following a ruling in Hong Kong.

30 October 2020

KPMG head of advisory moves to FTI Consulting in Dubai

FTI Consulting has hired KPMG’s head of advisory in Dubai to lead its Middle East restructuring practice.

29 October 2020

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