Regional news: Malaysia

Streamlined proving process approved in Cayman

The Cayman liquidators of a local insurance company have secured court approval of an alternative adjudication process for debt claims, removing the need for thousands of policyholders to lodge separate proofs.

16 September 2021

Design Studio Group restructuring denied after disclosure dispute

Seven months after creditors rejected interior design company Design Studio Group’s inter-conditional Singaporean and Malaysian schemes of arrangement, a Singaporean court has dismissed its latest attempt to restructure due to inadequate disclosure and class composition issues.

13 September 2021

Oon & Bazul guide engineering group’s Singapore scheme filing

International engineering group TEE is seeking help from Oon & Bazul to pursue a scheme of arrangement in Singapore, amid a raft of creditor claims against it and arbitration over a Malaysian construction contract.

13 August 2021

Mainland cooperation arrangement helps Hong Kong court wind up Cayman company

A Cayman company whose main assets are held in mainland China and Malaysia through British Virgin Islands subsidiaries has been wound up in Hong Kong, after a judge reasoned that mainland courts would recognise his order under their new cooperation arrangement.

02 August 2021

Linklaters advising as cruise ship operator completes US$2.6 billion restructuring

UPDATED: A host of law firms have advised on the successful multi-jurisdictional restructuring of Malaysian-controlled cruise ship operator Genting Hong Kong, which halted payments on its US$3.4 billion debt pile in August last year.

06 July 2021

Islamic offshore reinsurer wound-up in Malaysia

A Malaysian court has issued a winding-up order against the local arm of a Tunisia-headquartered Islamic reinsurance company that operates across Asia and Africa.

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Against the backdrop of the covid-19 pandemic and soon-to-be-rescinded government support schemes, local principal Emmanuel Chua and associate Shriram Jayakumar at Baker & McKenzie Wong & Leow in Singapore discuss three key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

Christopher Lee & Ong hires new co-head in Malaysia

A former general counsel of EY Hong Kong has joined Rajah & Tann’s Malaysian affiliate Christopher Lee & Ong as co-head of its restructuring group.

01 March 2021

Malaysia Airlines scheme sanctioned with unanimous support

Malaysia Airlines has secured sanction of its English scheme after earning the unanimous backing of all applicable creditors, allowing the High Court to avoid deciding whether the scheme amounted to an “insolvency-related event” under the Cape Town Convention.

22 February 2021

Cape Town Convention: AirAsia X scheme is an “insolvency-related event”

In a first of its kind ruling, a Malaysian court has ruled that struggling budget carrier AirAsia X’s scheme is an “insolvency-related event” for the purposes of the Cape Town Convention’s aircraft protocol.

19 February 2021

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