Regional news: Thailand

A Thai-owned power producer has persuaded a Singapore court to place the developer of a large project in Vietnam into judicial management, denying a request for a stay on the grounds that a disputed debt should be referred to arbitration.

24 May 2023

Latham & Watkins and Hengeler Mueller are advising German automotive wiring manufacturer Leoni as it reinstates a chief restructuring officer it relied on during the pandemic, following the failed disposal of a subsidiary that jeopardised its 2022 restructuring plan.

20 January 2023

The Central Bankruptcy Court of Thailand has approved an amendment to Thai Airways’ rehabilitation plan, which will allow the airline to reduce its borrowing after the relaxation of covid-19 restrictions have allowed it to “significantly increase” its revenues.

08 November 2022

Hoping to assist practitioners as the crypto winter ushers in a new period of activity for the restructuring industry, the High Court of Singapore has published brief grounds for its decision to extend moratoria for foreign companies within the Zipmex group.

17 August 2022

In the first English court decision to consider the new moratorium provisions enacted in the UK in 2020, Sir Alastair Norris has rejected a challenge from a Thai creditor against moratoria secured by a group of companies that operate some of the UK’s best-known upmarket restaurants.

17 February 2022

Creditors of the Malaysian budget airline AirAsia X have voted in favour of what was a contested scheme of arrangement that imposes a more than 99% haircut on unsecured debts.

15 November 2021

International engineering group TEE is seeking help from Oon & Bazul to pursue a scheme of arrangement in Singapore, amid a raft of creditor claims against it and arbitration over a Malaysian construction contract.

13 August 2021

Thai Airways’ rehabilitation plan has received court approval in Bangkok, after opposition from two creditors was rejected.

16 June 2021

Creditors of Thai Airways have voted in favour of what one lawyer has described as a “vague” restructuring plan, which envisages the airline being in rehabilitation until at least 2025.

21 May 2021

An aircraft leasing group that is trying to sue Indonesian and Thai subsidiaries of Asia’s Lion Air in England should have sought permission for service out of the jurisdiction before applying for alternative service, a court has found, in a dispute playing out against parallel conciliation proceedings in France.

28 April 2021