Regional news: Asia-Pacific
Omni Bridgeway recruits Stephenson Harwood partner in Hong Kong
Australia-headquartered litigation funder Omni Bridgeway has boosted its offering in Asia with the hire of one of GRR’s recently named “40 under 40” from Stephenson Harwood in Hong Kong.
23 November 2022
SGRI, Singapore: Sontchi on 16 years on the Delaware bankruptcy bench
Closing the Singapore Global Restructuring Initiative’s inaugural conference, Judge Christopher Sontchi provided 16 observations from his 16 years on the Delaware bankruptcy bench, saying judges will only ever know “a small fraction” of the truth and settlements are “almost always” better than court decisions.
18 November 2022
KordaMentha, King & Wood Mallesons hired for Deliveroo Australia’s administration
Deliveroo’s Australian operating subsidiary has entered voluntary administration appointing a team from KordaMentha advised by King & Wood Mallesons, in a case that could raise interesting questions for tech companies with non-physical assets.
17 November 2022
IWIRC reveals Asia Women of the Year for 2022
The International Women's Insolvency and Restructuring Confederation has named Alvarez & Marsal managing director Tiffany Wong its Asia Woman of the Year in Restructuring for 2022.
16 November 2022
III & ABLI launch new guide on treatment of insolvent MSEs in Asia
Two international insolvency organisations have launched a new guide on the treatment of insolvent micro and small enterprises in Asia, aiming to plug a gap in the legislative regimes of many Asian jurisdictions.
16 November 2022
SGRI, Singapore: crypto collapses “enliven” opportunity for mediation
The high-profile collapses of FTX and other crypto companies will lead to the “next wave” of mediations and arbitrations, according to speakers at the Singapore Global Restructuring Initiative’s inaugural conference.
15 November 2022
Hong Kong court sanctions guarantor’s scheme, ditches deed of contribution requirement
A Hong Kong court has sanctioned a guarantor’s scheme of arrangement for the first time, noting that it preferred the Singaporean approach to guarantor’s schemes over the English one, which usually requires a deed of contribution to establish “ricochet” claims between borrower and guarantor to discharge the third-party borrower’s debts.
11 November 2022
Thai Airways secures sanction for amended rehabilitation plan
The Central Bankruptcy Court of Thailand has approved an amendment to Thai Airways’ rehabilitation plan, which will allow the airline to reduce its borrowing after the relaxation of covid-19 restrictions have allowed it to “significantly increase” its revenues.
08 November 2022
Local disclosure provisions apply extraterritorially, Singapore court affirms
Auditors from Mazars in Singapore and Hong Kong must disclose documents relating to the liquidation of a formerly Singapore-listed investment holding company, after the Singapore High Court found that section 285 of the local Companies Act – which allows liquidators to obtain information on a company’s affairs – has extraterritorial effect.
04 November 2022
Linklaters, Haitong hired as another Chinese property developer halts offshore debt payments
Cayman Islands-incorporated, Shanghai-headquartered property developer CIFI Holdings has hired Linklaters and Haitong International Securities Company for advice on a “holistic” restructuring solution, after suspending all payments on its offshore debt.
02 November 2022