Regional news: Malaysia

Christopher Lee & Ong hires new restructuring 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

First pre-pack scheme approved under Singapore’s IRDA

Malaysian video streaming service iflix has secured the first pre-packaged scheme under Singapore’s Insolvency, Restructuring and Dissolution Act, with Stephenson Harwood affiliate Virtus Law and DHC Capital advising.

25 January 2021

Freshfields advising as Malaysia Airlines wins landmark UK scheme decision

Lawyers for the Malaysia Airlines group have welcomed a landmark English court ruling that they say confirms UK restructuring tools offer airlines a quicker and cheaper alternative to Chapter 11.

20 January 2021

AirAsia X reshuffles classes after scheme challenges in court

Malaysian low-cost airline AirAsia X has revised its proposed scheme of arrangement to split creditors into two classes, after concerns were raised in Kuala Lumpur's High Court.

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

Singapore court issues winding-up ultimatum in shareholder dispute

The majority shareholders of a Singaporean laser cutting business have been given 10 days to purchase its remaining shares to stop the city-state’s High Court from winding it up, as separate proceedings rumble on in Malaysia.

27 October 2020

Malaysian-controlled cruise ship operator seeks restructuring

Kirkland & Ellis and PJT Partners are advising Malaysian-controlled cruise ship operator Genting Hong Kong, which is pursuing an “holistic debt restructuring” after halting payments on its US$3.37 billion debt pile.

21 August 2020

RHTLaw advising as Hiap Seng Engineering files for JM in Singapore

Singapore-listed oil and gas services company Hiap Seng Engineering and one of its subsidiaries have filed separate applications for judicial management in the city-state, with RHTLaw advising.

29 July 2020

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