Regional news: Singapore

Pacific Radiance seeks moratoria extensions as scheme meetings loom

Offshore oil services company Pacific Radiance has asked a Singaporean court to extend its moratoria, two months after it reached a conditional deal to sell its entire fleet to an affiliate of Mexican vessel owner ENAV Offshore.

23 December 2021

Heads-Up: Frances Coulson at Wedlake Bell in London

Featured in Heads-Up

A few months after London boutique Moon Beever merged with Wedlake Bell, the new firm’s insolvency practice leader Frances Coulson talks to GRR about the knowledge she has gained from working with people in other jurisdictions, the risks for practitioners acting on fraud cases when no litigation funder wants to invest, and rising competition from Singapore and India.

10 December 2021

Can the petitioner be liable for liquidators’ fees? Singapore appeal court sheds light

A bank that placed Singaporean oil trader AnAn into winding up proceedings but later aborted in favour of arbitration will not have to bear the liquidators’ fees because there was no fault on its part as a petitioner, a Singaporean appeal court has found.

08 December 2021

Delaware court approves Riverbed Chapter 11

Global IT service provider Riverbed has emerged from Chapter 11 with a stamp of approval for its pre-packaged restructuring plan, allowing an investor group led by Apollo Global Management to become the group’s majority owners.

07 December 2021

Bribery not a defence to loan claim, Singapore court says

A metal trading company and its directors have been denied leave to defend an Indian bank’s loan recovery claim in Singapore with arguments that the money was secured by bribing the lender’s employees.

25 November 2021

Jail threat for Eagle Hospitality “fraudsters”

A Delaware bankruptcy judge has threatened to jail two shareholders of hotel portfolio group Eagle Hospitality, finding them in contempt of an order to account for fraudulently obtained covid aid.

18 November 2021

Delaware’s Judge Sontchi to serve in Singapore

Judge Christopher Sontchi has announced his intention to step down from the Delaware bankruptcy bench and take up a position as a judge of the Singapore International Commercial Court.

15 November 2021

Cayman beauty group’s liquidators obtain emergency US relief

The liquidators of a Cayman Islands beauty products e-commerce company have secured emergency relief from a New York bankruptcy court to freeze funds held in the local payment processing account of one of the company’s former clients, amid an international dispute over who owns the funds.

05 November 2021

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

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