Regional news: Asia-Pacific

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

Restructuring boutique merges in Singapore

Singaporean cross-border insolvency and disputes boutique Nair & Co has merged with mid-sized firm PK Wong & Associates, to form a full-service law firm in the Lion City.

07 January 2020

Gold miner files for bankruptcy in Canada as Armenia arbitration looms

A Jersey-registered gold miner has filed for bankruptcy protection in Canada as it weighs up an investment treaty arbitration against the Armenian government.

06 January 2020

Distressed Indian power unit rescued by foreign funds

A group of foreign investors led by Värde Partners and Goldman Sachs has agreed to buy 65.75 billion rupees (US$927 million) worth of debt from an Indian power company in one of the country’s largest out-of-court restructurings.

03 January 2020

Hong Kong court strikes out part of China Medical fraud claim

A Hong Kong court has struck out part of a fraud claim brought by the liquidators of Cayman-incorporated China Medical Technologies against one of the company’s former directors.

02 January 2020

Alvarez & Marsal makes double Big Four hire in Hong Kong

KPMG China’s head of insolvency Tiffany Wong and Ernst & Young associate partner Kitty Yeung have joined Alvarez & Marsal in Hong Kong.

19 December 2019

Deloitte and BDO brought in as ex-Steinhoff retailer collapses

Australian retail chain Harris Scarfe has entered receivership, less than a month after South African conglomerate Steinhoff sold it to Sydney-based private equity firm Allegro Funds.

13 December 2019

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