Regional news: Indonesia

Gibson Dunn advising as Indonesian clothing manufacturer seeks US recognition

Indonesian clothing company Sri Rejeki Isman has filed Chapter 15 petitions in New York to have its PKPU and Singaporean proceedings recognised, with Gibson Dunn & Crutcher, REVLaw, AJCapital Advisory and Aji Wijaya & Co taking roles across the different jurisdictions.

08 June 2021

Baker & McKenzie advises Indonesian garment manufacturer on worldwide moratorium

A Singaporean court has granted Indonesian garment manufacturer Pan Brothers and its subsidiaries an interim worldwide moratorium, after a creditor applied to put it in PKPU proceedings in Jakarta.

04 June 2021

The post-pandemic restructuring landscape - three trends from Asia

Against the backdrop of the covid-19 pandemic and soon-to-be-rescinded government support schemes, local principal Emmanuel Chua and associate Shriram Jayakumar at Baker & McKenzie Wong & Leow in Singapore discuss three key trends to look for in the "new normal".

20 May 2021

Lion Air leasing dispute falls foul of English service rule

An aircraft leasing group that is trying to sue Indonesian and Thai subsidiaries of Asia’s Lion Air in England should have sought permission for service out of the jurisdiction before applying for alternative service, a court has found, in a dispute playing out against parallel conciliation proceedings in France.

28 April 2021

Bakrie Telecom can’t enforce Indonesian restructuring in US

Indonesian telecoms company Bakrie Telecom has secured Chapter 15 recognition of its Jakarta PKPU proceedings – but a New York court has declined to enforce its restructuring plan that contains third-party releases.

19 April 2021

ABLI & INSOL: Is Singapore a good alternative for Indonesian companies?

Lawyers from Singapore and Indonesia compared the pros and cons of their jurisdictions for international restructurings featuring Indonesian companies, at a webinar organised by the Asian Business Law Institute and INSOL International.

30 March 2021

Singapore schemes sanctioned in new firsts for Asiatravel.com and MNC

Online travel agency Asiatravel.com has secured a Singapore scheme alongside an unprecedented second round of rescue financing, while Trump partner MNC Investema has become the first Indonesian company to implement a pre-packaged scheme in the city-state.

01 February 2021

Ashurst advising as Norwegian oil services group secures scheme meeting

The holding company for a Norwegian seismic imaging group has secured a single meeting for some of its creditors to vote on an English scheme restructuring US$872 million of debt.

21 December 2020

Hong Kong miner’s winding-up hearing adjourned amid share dispute

A Hong Kong court has adjourned a winding-up petition against an international mining company for a second time, raising concerns over shareholders’ attempts to convert an equity contribution into a debt claim.

17 November 2020

Borrelli Walsh appointed as Hyflux enters judicial management

After a two-and-a-half year restructuring saga, struggling Singaporean utility Hyflux has been placed into judicial management with immediate effect.

16 November 2020

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