Regional news: Asia-Pacific

Reforms in Hong Kong and the Netherlands as new Malaysian regime awaits signature

Hong Kong has adopted bail-in legislation and the Netherlands has amended its approach to directors’ liability in recent weeks, as sweeping changes await passage in Malaysia.

08 July 2016

Lawyers react to India’s new cross-border recognition mechanism

India’s new Bankruptcy Code includes provisions allowing Indian courts to cooperate with foreign courts in cross-border proceedings - but some lawyers have concerns the new law in its current form may bring procedural burdens.

08 July 2016

Australia's Forge Group in advanced talks for more litigation funding

The liquidator of bankrupt Australian construction company Forge Group is in advanced discussions to seek a second bout of litigation funding, as its investigations into the conduct of a major Singaporean contractor face delays.

06 July 2016

China Fishery Group seeks US protections to hold off asset fire sale

Affiliates of the Cayman-registered industrial fishing company China Fishery Group have filed a cluster of Chapter 11 and Chapter 15 applications in the US, seeking to delay a fire sale of the group’s Peruvian assets.

04 July 2016

Australian court orders liquidation of miner with Chapter 11 pending in Delaware

A court in Melbourne has appointed liquidators over Delaware-incorporated miner Legend International Holdings, declining to recognise its parallel Chapter 11 filing under the US bankruptcy Code.

23 June 2016

World’s largest coal company to test new Gibraltarian bankruptcy law

Peabody, the world’s largest private coal producer, has applied for recognition of its US bankruptcy proceedings in the British Overseas Territory of Gibraltar, in what is the first test of the peninsula’s new cross-border insolvency regime.

22 June 2016

China-focused BVI company obtains New York recognition of Hong Kong scheme

Winsway Enterprises Holdings, a British Virgin Islands-incorporated coking coal supplier that predominantly operates in China, has obtained approval of its Hong Kong scheme of arrangement from a New York court soon after a parallel scheme of arrangement was sanctioned in the BVI.

17 June 2016

Singapore court recognises BVI companies' Japanese insolvency proceedings

UPDATED: The Singapore Supreme Court has recognised a Japanese trustee appointed over a pair of British Virgin Islands-incorporated medical companies, affirming for the first time that bankruptcy proceedings in a company’s centre of main interests, but outside its place of incorporation, can be recognised in the city-state.

14 June 2016

Chapter 15: Hong Kong and Canadian cases recognised in NY, Cayman filing lands in Dallas

Over the past two weeks, judges in New York have recognised foreign proceedings in Hong Kong and Canada under Chapter 15, while a further filing in the Wyly saga was registered in Texas.

13 June 2016

TOKYO: III celebrates a day of firsts

At its first conference in Asia this week, the International Insolvency Institute (III) presented its inaugural founder’s award to octogenarian Japanese former judge Shinjiro Takagi, ahead of his forthcoming move to Singapore to help it become an international debt restructuring hub.

06 June 2016

Get unlimited access to all Global Restructuring Review content