Regional news: Asia-Pacific

Begbies Traynor brought in as Hong Kong-owned Wigan Athletic kicks off administration

English football club Wigan Athletic has fallen into administration in the UK, just weeks after it was taken over by Cayman-registered, Hong Kong-based Next Leader Fund.

03 July 2020

Gibson Dunn partners face Singapore misconduct probe

The head of Gibson Dunn & Crutcher’s Singapore office and another partner are facing disciplinary investigations over alleged misconduct when advising an Indian engineering company that placed subsidiaries into judicial management.

03 July 2020

Virgin Australia administrators select Bain Capital as new owner

Virgin Australia’s administrators have entered a sale agreement with US private equity group Bain Capital and warned shareholders not to expect any recoveries.

01 July 2020

Oon & Bazul hires from Clifford Chance in Singapore

Oon & Bazul has hired Clifford Chance’s Keith Han as a partner in Singapore, describing him as a “clear leader in his generation”.

30 June 2020

Hyflux receives another Indonesian investment offer

Indonesian tycoon Johnny Widjala has made a S$400 million investment offer to struggling Singaporean water treatment company Hyflux, as its long-running restructuring saga continues with new investigations into the company and its current and former directors.

30 June 2020

Alvarez & Marsal advising Wirecard UK while its US arm launches sale

The US subsidiary of scandal-hit payment processor Wirecard has put itself up for sale, while the group’s UK arm has hired Alvarez & Marsal as criminal investigations open up around the world.

30 June 2020

Aussie copper miner completes first guarantor’s scheme, bypasses Gibbs rule with declaration

King & Wood Mallesons has helped the parent of a copper miner complete the first guarantor’s scheme of arrangement in Australia, restructuring English law-governed debts and getting around the Gibbs rule with a declaration from an English court.

29 June 2020

Singapore schemes sanctioned for Malaysian restaurant operator and Australia-listed builder

A Singapore court has sanctioned a scheme of arrangement for a Malaysia-focused restaurant operator, and separately approved a scheme for an Australia-listed construction company.

29 June 2020

African Minerals secures scheme hearing in England

African Minerals, a Bermuda-registered mining company in administration in the UK, has won court approval to hold a scheme meeting to help it resolve a creditor conflict about whether it should pursue claims against a Chinese steel group.

29 June 2020

Noerr, Kirkland and Allen & Overy advising as Wirecard files for insolvency

German payment processor and DAX-listed company Wirecard has filed for insolvency in Munich, days after German authorities arrested its former CEO over allegations he presided over one of Europe’s largest ever accounting frauds.

26 June 2020

Get unlimited access to all Global Restructuring Review content