Regional news: Asia-Pacific

Singaporean hotel group fights Chapter 11 dismissal motion

Hotel portfolio owner Eagle Hospitality Trust is battling to prevent a Delaware court from dismissing Chapter 11 cases filed by its Singaporean affiliates, while part of the group has entered liquidation in Singapore.

30 March 2021

ABLI & INSOL: Is Singapore a good alternative for Indonesian companies?

Lawyers from Singapore and Indonesia compared the pros and cons of their jurisdictions for international restructurings featuring Indonesian companies, at a webinar organised by the Asian Business Law Institute and INSOL International.

30 March 2021

English court sanctions gategroup restructuring plan

Swiss airlines services provider gategroup has secured sanction of its UK restructuring plan after adding an additional provision to help ensure it is effective in Switzerland.

26 March 2021

Greensill files Chapter 11 in New York, fails to secure interim DIP order

One day after a US unit of collapsed finance group Greensill filed for Chapter 11 protection, a New York court has adjourned a first-day hearing to approve interim debtor-in-possession financing after raising issues with “awfully expensive” exit fees.

26 March 2021

Luckin Coffee wins New York recognition but objections remain

China’s Luckin Coffee has secured US recognition of its Cayman liquidation – but a New York court has asked for more information before it decides the scope of further Chapter 15 relief, in light of objections lodged over a stay on claims against non-debtor parties.

24 March 2021

Vehicle linked to collapsed German Property Group wound up in Ireland

An Irish vehicle created to invest in historic German real estate has been wound up by the High Court in Dublin, eight months after a property group it put money into collapsed in Germany amid “profoundly worrying allegations”.

23 March 2021

Moratorium application dismissed as unfeasible in Singapore

In what local lawyers say is one of the first tests of the IRDA regime, a Singaporean court has refused to grant a restructuring moratorium to an electronics company, finding its proposed scheme of arrangement was not feasible.

23 March 2021

HNA seeks investors amid Chinese restructuring proceedings

Chinese conglomerate HNA Group is looking for investors in its aviation and retail businesses, after a Hainan court consolidated the restructuring proceedings of over 300 companies in the group.

22 March 2021

Dissolved BVI companies restored after “catastrophic” mistake

Two BVI companies that were part of Tokyo-headquartered alternative investor Pacific Alliance Group and were erroneously liquidated and dissolved following a “massive breakdown” of communications will be restored to the islands’ company register.

19 March 2021

Linklaters hires in Hong Kong

Magic Circle firm Linklaters has hired two partners from White & Case and Kirkland & Ellis in Hong Kong, as the firm says it plans to strengthen its focus on funds in Asia.

18 March 2021

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