Topic: Moratorium

Three subsidiaries of Malaysian oil and gas services company Sapura Energy have secured Singaporean recognition of their ongoing restructuring proceedings following a flurry of winding up petitions filed against the group last year.

01 February 2023

Shook Lin & Bok and KordaMentha are advising a Singaporean investment holding company that has applied for a moratorium amid a delayed restructuring with a Canadian group, a failed deal to sell some dental clinics, and letters of demand from a bank.

16 January 2023

The UK’s restructuring plan has been a success since it was introduced two years ago, according to a government report, but the country’s new moratorium tool has not been as effective in meeting its policy objectives.

22 December 2022

Crypto group Zipmex has secured an extension of its Singaporean moratoria, but a local judge criticised its advisers for failing to keep the court informed of developments at its Indonesian subsidiary.

06 December 2022

Preventing a potential stand-off with the Irish courts, a US appeals court has denied a request by an Irish citizen resident in Illinois to enforce a Chapter 11 stay against his Irish creditors.

22 September 2022

Property developer China Fortune Land has revealed details of a proposed debt swap that it will offer to holders of eleven tranches of bonds issued by a Cayman subsidiary – with plans to pursue an English scheme of arrangement if a consent proposal fails.

16 September 2022

The Swiss parent company of ill-fated offshore natural gas pipeline Nord Stream 2 has successfully obtained an extension of bankruptcy protection after sanctions imposed on Russia withered hopes the pipeline would secure the approval needed to operate.

12 September 2022

India’s Supreme Court has confirmed that the existence of a moratorium under the Insolvency and Bankruptcy Code limits the power of a customs authority to recover customs duties, allowing an appeal by the liquidator of an Indian shipbuilding company.

08 September 2022

UPDATED: A team from EY has been appointed interim judicial managers of Singaporean crypto lender Hodlnaut, after a court invited creditors to name alternatives to the lender’s own candidate.

30 August 2022

Singapore’s freshly appointed official receiver, Francis Ng SC, reflected on the five years since the city-state declared its ambition to be a regional restructuring hub and looked to its future as a potential centre for restructuring troubled cryptocurrency platforms in his keynote at GRR Live.

25 August 2022