Regional news: Singapore

Borrelli Walsh’s Singapore restructuring head fails to overturn directorship ban

The Singapore Court of Appeal has upheld a directorship disqualification for Jason Kardachi, leader of Borrelli Walsh’s restructuring practice in south-east Asia, after the Registrar of Companies struck off four companies he had been appointed to restructure.

25 September 2020

Deloitte appointed as KS Energy subsidiaries enter interim JM

Deloitte partners Andrew Grimmett and Justin Lim have been appointed as interim judicial managers over two subsidiaries of oil and gas group KS Energy in Singapore, after the group failed to come to an agreement with its largest creditor.

21 September 2020

Hyflux investor shares frustrations as JM hearing awaited

Stock exchange filings in Singapore reveal frustration between lawyers of a vehicle managed by Indonesian tycoon Johnny Widjaja that is a potential investor in Hyflux’s debt, and counsel to a group of banks trying to place Hyflux under judicial management.

17 September 2020

Singapore court appoints RSM Advisory as energy services group enters JM

A Singaporean court has placed oil and gas services provider Hiap Seng Engineering and its subsidiary HS Compression & Process in judicial management, confirming the appointments of two RSM Advisory partners.

16 September 2020

Chinese-owned Hontop Energy placed under judicial management

A Singapore court has placed Hontop Energy, the trading arm of a Chinese independent oil refiner, under full judicial management supervised by RSM Advisory, following allegations of “suspicious transactions” from its biggest lender.

11 September 2020

Singapore’s Swee Hong wins creditor approval for scheme

Creditors of Singapore-headquartered civil engineering contractor Swee Hong have given the green-light to its scheme of arrangement, six months after a court approved rescue financing for the company with super-priority status.

03 September 2020

Wirecard sells assets in UK, Brazil and Germany

Scandal-hit payment processor Wirecard has agreed to sell assets in the UK, Brazil and Germany, while a Munich court has accepted its parent’s administration filing and insolvency proceedings continue in Australia and New Zealand.

01 September 2020

Singapore appeal court reverses Indonesian recognition

Singapore’s Court of Appeal has set aside the recognition of four Indonesian personal bankruptcies, finding the bankruptcy orders were made in “breach of natural justice”.

28 August 2020

A&O advising as India’s Suzlon completes bond restructuring

Indian wind turbine supplier Suzlon Energy has completed a restructuring of its step-up foreign currency convertible bonds, in what is believed to be the country’s largest bond restructuring to date.

19 August 2020

New Asian-European restructuring boutique launched

A former Baker McKenzie and Deloitte practitioner has co-founded a new cross-border restructuring boutique focused on special situations and transactions in Switzerland, China and Singapore.

12 August 2020

Get unlimited access to all Global Restructuring Review content