Regional news: Singapore
Singapore’s Design Studio Group files winding up application
Two months after a Singapore court rejected its latest scheme of arrangement, interior design company Design Studio Group’s board of directors have commenced a winding up application against it.
03 November 2021
Lim family loses appeal against Ocean Tankers suit
Oil tycoon Lim Oon Kuin and two of his children have failed to overturn a Singaporean summary judgment that found them in breach of their fiduciary duties to shipping group Ocean Tankers, after an appeal court dismissed their “ill-advised attempt to seek a different outcome” on the same evidence.
28 October 2021
Modernland seeks end to New York Chapter 15s after winning recognition
After securing US recognition of a pair of pre-packaged Singaporean schemes earlier this month, Indonesian real estate group Modernland Realty has moved to close its Chapter 15 cases.
27 October 2021
Prosafe schemes sanctioned in Singapore
Norwegian vessel operator Prosafe has won court approval for its two schemes of arrangement in Singapore, freeing up the road ahead for the group to progress a Norwegian restructuring process it launched last month.
19 October 2021
Singapore and Malaysia implement cooperation protocol
Singaporean and Malaysian lawyers have welcomed a “ground-breaking” new protocol on court-to-court communication and cooperation in cross-border insolvency matters between the two countries.
15 October 2021
Gibson Dunn partner absolved of misconduct in Singapore
UPDATED: A Singaporean court has set aside a disciplinary tribunal’s misconduct decision against the head of Gibson Dunn & Crutcher’s local office, dismissing an application by the judicial managers of two subsidiaries of Indian construction company Punj Lloyd.
14 October 2021
Dechert launches Asia restructuring practice with Kirkland hire
Eight months after adding a new global co-head of restructuring in London, Dechert has hired Kirkland & Ellis partner Daniel Margulies to lead its new Asia restructuring practice and help “capture the growth” in activity in the region.
12 October 2021
China Fishery secures recognition of Ch11 plan in Singaporean first
In a first-of-its-kind ruling, a Singapore court has departed from the UK’s Rubin decision and recognised a Chapter 11 restructuring plan launched by industrial fishing conglomerate China Fishery’s Singaporean holding company.
11 October 2021
Dentons Rodyk hires from BlackOak
Former BlackOak director Debby Lim has joined Dentons Rodyk & Davidson in Singapore.
11 October 2021
China Fishery permitted to hold UK restructuring plan meetings
A Peruvian arm of industrial fishing conglomerate China Fishery Group has been allowed to convene two creditor meetings for its UK restructuring plan, while the BVI liquidators of another part of the group have asked a US court to dismiss the Chapter 11 proceedings of a Pacific Andes subsidiary.
01 October 2021