Regional news: Malaysia
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
ASEAN property groups plan schemes in Singapore and Malaysia
Cayman-incorporated Capital World has launched a proposed pre-packed, fast-track scheme of arrangement in Singapore, while subsidiaries of Singapore’s Hatten Land have obtained moratoria in Malaysia ahead of launching two local schemes.
24 July 2020
Malaysian steel maker seeks US injunction following English recognition
The foreign representative of a Malaysian steel maker is seeking Chapter 15 protection in California to block an attachment claim, weeks after an English court granted similar relief.
20 March 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
Apple reseller to sack CEO amid judicial management filing in Singapore
Facing a judicial management application, a Singaporean technology retailer has said it will sack its absent executive chairman over allegations that he signed off on finance agreements worth millions without authorisation.
29 July 2019
Singapore venture fund enters judicial management
A Singaporean court has placed a local venture fund under judicial management, after hearing that its former managers allegedly withheld financial information to depress the company’s value and yield a lower recovery for shareholders.
18 July 2019
Online travel platform obtains Singapore’s first super priority order
A Singapore court has issued the first-ever super priority order under the city-state’s new Companies Act, in favour of a creditor of struggling online travel platform Asiatravel.com Holdings.
16 April 2019
Another offshore marine group seeks protection in Singapore
Offshore services provider Otto Marine has petitioned a Singaporean court for a judicial management order in the face of US$877 million in debt and a winding-up application from a major bank.
27 February 2018