Regional news: Indonesia

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

Indonesian property group secures Singapore moratorium with noteholder carve-out

A Singapore court has granted a moratorium to Indonesian real estate group Modernland Realty, approving a carve-out on its extra-territorial effect on noteholders.

06 November 2020

Airline roundup: LCWP acting for lessors in contentious AirAsiaX restructuring

Kuala Lumpur-based Lim Chee Wee Partnership is acting for leasing company BOC Aviation in its efforts to derail Malaysian airline AirAsia X's scheme of arrangement – while Indonesia’s Lion Air is facing a bankruptcy application and Japan’s ANA Holdings has announced a number of cost-cutting measures.

27 October 2020

Indonesian textile group wins US recognition

A New York court has recognised the reorganisation of a Java-based textile group, as part of a multinational restructuring that has seen proceedings play out in the US, Indonesia and Singapore.

13 October 2020

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