Regional news: Thailand

Cayman-incorporated oil and gas group KrisEnergy has secured creditor support for its Singaporean scheme of arrangement as part of a restructuring of its US$477 million debt pile.

19 January 2021

Simmons & Simmons, Dentons and Hunton Andrews Kurth have hired in London, Portland in Maine and Bangkok respectively; while Begbies Traynor has acquired insolvency advisory group CVR Global, adding its first overseas offices.

18 January 2021

An English court has recognised Thai Airways’ Bangkok rehabilitation proceedings, granting its foreign representatives additional relief in the form of a moratorium on secured creditors taking enforcement actions.

09 December 2020

A Delaware-registered arm of bankrupt Thai-owned upmarket grocer Dean & DeLuca has filed an adversary claim in New York against its former Japanese joint venture partner and an affiliate, arguing they took advantage of the grocer’s insolvency to buy shares at a steep discount.

04 December 2020

An oil and gas group pursuing a Singaporean scheme, KrisEnergy, has reached a settlement with a creditor that brought a Cayman winding-up petition against its Thai subsidiary, after failing to secure an injunction on the petition.

30 November 2020

Thai-owned gourmet retailer Dean & DeLuca has won court approval for its several-times renegotiated Chapter 11 restructuring plan, after former bankruptcy Judge Kevin Carey helped it reach a mediated settlement with stakeholders.

30 November 2020

An English court has refused to strike out a fraudulent transfers claim against a Thai bank, ruling there was a reasonable prospect the claim would be found to have a sufficient connection to England.

25 November 2020

The receivers of a BVI investment company have been prevented from replacing the directors of its Japanese subsidiary, after a local court found a Singaporean investor could not apply on their behalf.

14 October 2020

An Australian court has recognised Thai Airways’ rehabilitation proceedings – the first Thai bankruptcy to be recognised in the jurisdiction – while another recognition application is also pending in Japan.

09 September 2020

Retired Delaware judge Kevin Carey has been appointed to mediate in Thai-owned gourmet retailer Dean & DeLuca’s Chapter 11 proceedings, following creditor allegations the US bankruptcy was only filed to benefit its parent’s reorganisation in Thailand.

04 September 2020