Regional news: Singapore
Businessman’s bankruptcy appeal blocked in Singapore
A Singaporean businessman has been stopped from appealing against his bankruptcy after a local court found he had shown “blatant disregard” for procedural rules.
10 May 2021
Sanjeev Gupta’s Liberty Steel appoints restructuring committee, faces winding-up petitions
Norton Rose Fulbright, PJT Partners and Alvarez & Marsal are advising a new international restructuring and transformation committee appointed by Sanjeev Gupta’s Liberty Steel Group to help it navigate trade finance provider Greensill’s collapse.
06 May 2021
Greensill and Archegos losses lead to Credit Suisse class action
Credit Suisse is facing a proposed class action in New York over allegations it hid defects in its risk policies so it could extend excessive leverage to scandal-hit trade finance provider Greensill and family office Archegos Capital – exposing it to billions of dollars of losses.
20 April 2021
Furniture group shareholders fail to overturn Singapore judicial management sale
A Singaporean court has clarified the definition of unfair prejudice to shareholders under local law, refusing to void the sale of a global furniture group’s assets by its judicial managers despite shareholders favouring a rival bid.
19 April 2021
Interim recognition in Australia for Greensill Bank administrator
Greensill Bank’s German insolvency administrator has obtained interim recognition in Australia and has used Eversheds Sutherland to make a similar application in the UK.
07 April 2021
Hogan Lovells leads on €4.5 billion restructuring of French hotel operator
A long list of law and advisory firms have helped international hotel operator AccorInvest Group secure additional financing and complete a multi-jurisdictional restructuring of its €4.5 billion debt pile.
07 April 2021
Greensill enters provisional liquidation in Singapore
Greensill’s Asia arm has entered provisional liquidation in Singapore, following the finance group’s UK and Australian administration proceedings, German insolvency filing and US Chapter 11.
30 March 2021
Singaporean hotel group fights Chapter 11 dismissal motion
Hotel portfolio owner Eagle Hospitality Trust is battling to prevent a Delaware court from dismissing Chapter 11 cases filed by its Singaporean affiliates, while part of the group has entered liquidation in Singapore.
30 March 2021
ABLI & INSOL: Is Singapore a good alternative for Indonesian companies?
Lawyers from Singapore and Indonesia compared the pros and cons of their jurisdictions for international restructurings featuring Indonesian companies, at a webinar organised by the Asian Business Law Institute and INSOL International.
30 March 2021
English court sanctions gategroup restructuring plan
Swiss airlines services provider gategroup has secured sanction of its UK restructuring plan after adding an additional provision to help ensure it is effective in Switzerland.
26 March 2021