Regional news: Asia-Pacific

J Crew wins rent relief in US

A US bankruptcy court has allowed apparel retailer J Crew to pause rent payments for two months, following similar orders handed down in Australia and England to protect retailers struggling from the covid-19 pandemic.

27 May 2020

ABLI/INSOL International: What can Singapore (and the rest of Asia) learn from Japan?

Lawyers from Japan and Singapore discussed how debtors are benefiting from new out-of-court and cross-border processes in their respective jurisdictions and predicted that these debtor-friendly tools will be put through their paces amid a covid-19 restructuring surge.

20 May 2020

Mishcon and Reed Smith bolster restructuring offerings in Singapore

British firm Mishcon de Reya has launched a new office in Singapore after hiring a team from Withers KhattarWong, while Reed Smith’s formal law alliance in the Lion City, Resource Law, has recruited Shook Lin & Bok partner Johnny Lim.

12 May 2020

Australian court allows Colette administrators to hold off rent payments

The administrators of Australian fashion retail group Colette have been relieved from paying landlords for a period, after the Federal Court of Australia found the covid-19 pandemic had created “extraordinary” circumstances.

21 April 2020

Judicial managers appointed over Agritrade in Singapore

The Singapore High Court has made a full judicial management order against commodity trader Agritrade International, five weeks after putting interim measures in place over a suspected fraud.

30 March 2020

Administrators appointed over former BBC chair’s investment company

An English court has appointed Quantuma partners Simon Bonney and Michael Kiely, and Moore Kingston Smith partner Brian Baker, as joint administrators of balance-sheet solvent theatre and film investment company Gate Ventures.

25 March 2020

Malaysian steel maker seeks US injunction following English recognition

The foreign representative of a Malaysian steel maker is seeking Chapter 15 protection in California to block an attachment claim, weeks after an English court granted similar relief.

20 March 2020

Hong Kong court gets round Gibbs again in Singyes Solar scheme

A Hong Kong court has sanctioned a scheme for a Bermuda-incorporated solar energy group compromising New York and English-law governed debts, in another example of common-law courts getting around the Gibbs rule

18 March 2020

Supreme Court overturns Jaypee preferential transactions ruling

India’s Supreme Court has clarified local avoidance rules finding that land pledged by an insolvent property developer to a group of banks as security for loans to its parent amounted to a preferential transaction.

27 February 2020

Singaporean commodity trader placed under interim judicial management

The Singapore High Court has placed commodity trader Agritrade International under interim judicial management after fraud allegations from a group of banks scuppered its application for a moratorium.

20 February 2020

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