Regional news: Asia-Pacific
Trade creditors approve Virgin Atlantic’s restructuring plan
Creditors have approved Virgin Atlantic’s ground-breaking restructuring plan at four virtual meetings, with 99% of trade creditors lending their support.
25 August 2020
Mumbai tribunal appoints IP over Reliance chair Ambani’s assets
A tribunal in Mumbai has appointed an insolvency professional to manage the assets of Anil Ambani, chair of the Reliance telecoms group, after hearing arguments that Chinese banks who sued him in the UK could attach his assets before Indian creditors.
24 August 2020
Campbells hires new managing partner in Hong Kong
Offshore law firm Campbells has hired Shaun Folpp from Mourant to take over the management of its Hong Kong office.
21 August 2020
Malaysian-controlled cruise ship operator seeks restructuring
Kirkland & Ellis and PJT Partners are advising Malaysian-controlled cruise ship operator Genting Hong Kong, which is pursuing an “holistic debt restructuring” after halting payments on its US$3.37 billion debt pile.
21 August 2020
Covid-19 calls: Mayer Brown partner John Marsden in Hong Kong
John Marsden, Mayer Brown partner in Hong Kong and managing partner of the firm's Vietnam and Thailand offices, tells GRR that the covid-19 pandemic, unlike the global financial crisis, has given governments and financial institutions “breathing space” to evaluate which companies and industries they are going to support.
20 August 2020
A&O advising as India’s Suzlon completes bond restructuring
Indian wind turbine supplier Suzlon Energy has completed a restructuring of its step-up foreign currency convertible bonds, in what is believed to be the country’s largest bond restructuring to date.
19 August 2020
BVI court refuses to discharge freezing order against Chinese cinema owner
A British Virgin Islands court has refused to set aside a freezing order against the Chinese owner of insolvent cinema group SMI Holdings, addressing a recent appeal decision on Chabra injunctions.
18 August 2020
Hong Kong assistance requested again in Australia’s Rennie Produce liquidation
An Australian court has requested assistance from the High Court of Hong Kong to summons three Hong Kong residents in the decade-old liquidation of Australian crop planting company Rennie Produce.
18 August 2020
Two more Virgin Australia entities seek Chapter 15 recognition
The newly appointed administrators of two Virgin Australia entities that Bain Capital plans to include in its purchase of the group have sought Chapter 15 recognition in New York.
14 August 2020
Speedcast agrees sale to support Chapter 11 exit
Australian satellite communications group Speedcast has agreed to sell its business to a US private equity firm, in a deal that would see disgruntled shareholders lose out when it emerges from bankruptcy.
14 August 2020
Get unlimited access to all Global Restructuring Review content