Regional news: Asia-Pacific

Chinese judgments recognised and enforced in BVI

In what practitioners say could be a first for the jurisdiction, a British Virgin Islands court has recognised and enforced three judgments issued by a Chinese court, appointing equitable receivers over shares issued in a local company.

14 February 2020

Bermuda court appoints liquidators over Hong Kong-listed miner

The Supreme Court of Bermuda has appointed “light touch” joint provisional liquidators over a Hong Kong-listed metal miner and asked the Hong Kong High Court to recognise the order.

13 February 2020

BlackOak hires Shook Lin & Bok partner in Singapore

Shook Lin & Bok partner Debby Lim has joined special situations boutique BlackOak in Singapore.

11 February 2020

Hyflux deadlines extended for debt buyout and creditor claims

Singaporean investor Aqua Munda has extended the deadline for Hyflux’s noteholders and unsecured creditors to tender their debt buyout offers.

05 February 2020

Hyflux appoints Clifford Chance

One day after WongPartnership applied to discharge itself as counsel to Hyflux, the struggling Singaporean utility has appointed Clifford Chance and its local partner Cavenagh Law as its new legal advisors.

30 January 2020

WongPartnership seeks discharge from Hyflux restructuring

Struggling Singaporean utility Hyflux has secured another month-long extension to its debt moratorium after WongPartnership applied to discharge itself as counsel to the company, with Norton Rose Fulbright or Milbank primed to take over.

29 January 2020

INSOL Insights: Rapid evolution in Chinese bankruptcy and reorganisation

King & Wood Mallesons restructuring partner Sam Kinsey shares her key takeaways from recent insolvency seminars in Beijing and Shanghai. There are positive signs, but considerable uncertainty remains, she says.

14 January 2020

Hyflux seeks proofs of claim while new investor offers debt buyout

Singapore’s struggling water treatment company Hyflux has asked creditors to file proofs setting out their claims, as it looks to convene scheme meetings to vote on its restructuring deal with UAE utility Utico.

10 January 2020

Creditors race to put Tough Mudder in bankruptcy

Creditors of obstacle course organiser Tough Mudder have filed an involuntary Chapter 11 petition against it in Delaware, claiming management is “content to let the business fail”.

09 January 2020

Cross-border Insolvency Protocol in Jet Airways: Innovations and Challenges

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission discusses the cross-border insolvency protocol between the Netherlands and India in the Jet Airways bankruptcy.

08 January 2020

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