Regional news: Japan

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

BVI court blocks receivers from replacing Japanese company’s directors

The receivers of a BVI investment company have been prevented from replacing the directors of its Japanese subsidiary, after a local court found a Singaporean investor could not apply on their behalf.

14 October 2020

ABLI/INSOL International: What can Singapore (and the rest of Asia) learn from Japan?

Lawyers from Japan and Singapore discussed how debtors are benefiting from new out-of-court and cross-border processes in their respective jurisdictions and predicted that these debtor-friendly tools will be put through their paces amid a covid-19 restructuring surge.

20 May 2020

Online grocer seeks Singapore scheme

A Silicon Valley-backed retail start-up in Singapore has announced it will pursue a scheme of arrangement for its S$248 million debt, and appointed Oon & Bazul and DHC Capital for advice.

05 August 2019

Japanese bitcoin exchange seeks rehabilitation recognition

The foreign representative of Japanese bitcoin exchange MtGox has asked a Texas bankruptcy court to modify a Chapter 15 recognition order after its Japanese insolvency proceedings shifted from a bankruptcy to a rehabilitation action.

29 October 2018

Japanese and Korean judges join JIN as Ontario endorses court-to-court guidelines

The Judicial Insolvency Network’s advance has continued apace, with courts in Japan and South Korea nominating four “observers” to the network, while a group of lawyers and financial advisors in Ontario have endorsed its guidelines on court-to-court communication and cooperation.

07 February 2018

Takata requests Chapter 15 protection in Delaware

The parent and two affiliates of Japanese car part manufacturing group Takata have filed for Chapter 15 protection in Delaware, just over a month after the company's US arms filed a Chapter 11 petition in the same bankruptcy court.

10 August 2017

Weil advises as Toshiba nuclear unit files Chapter 11 case in New York

US nuclear group Westinghouse Electric, part of the Japanese conglomerate Toshiba, has filed for bankruptcy protection in New York, hiring counsel from Weil Gotshal & Manges.

29 March 2017

US court maintains putative class action over defunct bitcoin exchange

A US district court has rejected a Japanese bank’s motion to dismiss a putative class action lawsuit alleging that it unjustly profited while managing an account for the now-bankrupt Japanese bitcoin exchange Mt Gox – once the world’s largest such exchange.

31 August 2016

The III arrives in Asia

Increasing creditor participation in typically debtor-friendly Japan; new out-of-court workout rule rules in China and Korea; and Singapore’s recently announced ambition to become an international debt restructuring hub were all topics of discussion when the International Insolvency Institute (III) hosted its first-ever conference in Asia in June.

15 August 2016

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