Allen & Gledhill LLP has landed many of the premier engagements in the market over recent years, often acting for creditors. The firm brings its extensive resources and expertise to bear in the restructuring and insolvency field, offering a range of contentious and non-contentious experience in a variety of matters. The firm has continued to have prime roles on the restructurings of Hin Leong Trading, Pacific International Lines, and Hyflux. Head of the restructuring and insolvency group Yee Leong Chong and deputy head Edward Tiong have led on major recent restructurings, and Andrew Chan and Kenneth Lim are also senior members of the practice.
Restructuring and insolvency: local firms in Singapore
‘Forward thinking, handles complex issues with ease. Provides out of the box solutions.’
‘Alexander Yeo is top notch when it comes to considering issues with a 360 view point and anticipating next moves. Strategically brilliant.’
‘The A&G team has deep experience in this area which we heavily rely on, They are very responsive and while strong in the law, are also very pragmatic.’
‘Tham Hsu Hsien is my go-to person and I an always rely on him to provide strong and practical advice. He is very responsive and easy to work with. He takes the time to understand the issues from a commercial perspective and finds solutions.’
- Advised multiple major bank and non-bank creditorsvin relation to the judicial management of Hin Leong Trading, Ocean Tankers and Xihe Holdings, and the subsequent liquidation of HLT and OT.
- Advised an informal steering committee of lenders holding $1.34bn of debt on the restructuring of Pacific International Lines.
- Advised various creditors on the S$1.5bn restructuring of Hyflux.
Drew & Napier LLC has a prestigious record in the restructuring and insolvency segment. This includes key recent roles in connection with the restructurings of Pacific International Lines, Hin Leong Trading and Hyflux. The firm also brings extensive disputes expertise to contentious matters. Sushil Nair is an outstanding practitioner in the field, with he and Julian Kwek continuing to be noted for Indonesia and wider Southeast Asia restructurings; they are also recognised for China-related matters. Chan Wei Meng is another key member of the team and Blossom Hing is a prominent figure in contentious insolvency proceedings. Mohan Gopalan is an emerging talent.
Other key lawyers:
Blossom Hing; Mohan Gopalan; Chan Wei Meng
‘Extremely commercial and competent. They are able to grasp issues affecting not just the legal position but also address the commercial, political and reputational concerns of the client.’
‘Blossom Hing. She is super responsive and sharp with an amazing work ethic. She is always available to address any concerns I have, I trust her implicitly. Extremely competent and commercial. A pleasure to work with.’
‘Very good team with each complimenting the other. Sushil Nair leads with insights on what the banks are thinking and is able to also communicate effectively to the banks what the investors want and rationale. Chan Wei Meng attends to technical details and dives into past cases and new positions by the Court. Mitch is very detailed in drafting and captures most accurately what is the intentions and facts in the respective affidavits. Worked with many law firms the past 5 years and Drew is the most organised and effective by far.’
‘I think the key differentiator here is the ability to bridge the communication gap between investor/company and creditors/banks is absolutely critical in any successful restructuring.’
‘I am very satisfied with the level of service provided by Drew & Napier especially their in depth understanding and knowledge of how to achieve an amicable solution that would be acceptable to all parties.’
‘I deal al lot with Julian Kwek and his team. I am very impressed with Julians’s commitment and professionalism. The team is not only to provide legal advice, but more importantly they can always come out with an outside the box solution to address those risks and concerns that the clients might have.’
‘The Drew & Napier restructuring group is extremely impressive. I have seen first-hand the Drew & Napier team expertly and successfully guide Southeast Asian- based companies through extraordinarily complex and often intense restructurings.’
‘The Drew & Napier lawyers with whom I have worked most closely are Sushil Nair and Julian Kwek, the co-heads of the restructuring group. Both are extremely hard-working, smart and creative — and I have seen them achieve excellent results for their clients in every matter where I have had the privilege of working with them. I also have worked closely with Blossom Hing, Chan Wei Meng and Mohan Gopalan – and, as with Mr Nair and Mr Kwek, I always have been impressed with the first-rate quality of their work and their dedication to helping their clients work through and emerge from difficult times.’
F J Benjamin Holdings Ltd
Nam Cheong Limited
Ezra Holdings Limited
EMAS Offshore Limited
PricewaterhouseCoopers LLP (Singapore)
PT Berlian Laju Tanker Tbk
PT Bumi Resources Tbk
United Overseas Bank Limited
Pacific Andes Resources Development Limited
Reignwood International (Group) Limited
Oceanus Group Limited
TT International Limited
FTI Consulting (Singapore) Pte Ltd
Public Utilities Board of Singapore
Brightoil Petroleum (S’pore) Pte. Ltd.
Brightoil Petroleum (Holdings) Limited
National Environment Agency of Singapore
Thakral Brothers (Private) Limited
Kyen Resources Pte Ltd
Taipei Fubon Commercial Bank Co., Ltd
PetroChina International (Singapore) Pte. Ltd.
Ernst & Young LLP
Rhodium Resources Pte Ltd
Heliconia Capital Management Pte Ltd (linked to Temasek Holdings)
Libra Group Limited
Informal steering committee of lenders to Hin Leong Trading (Pte) Ltd, comprising amongst others, ABN AMRO Bank, N.V. Singapore Branch, Bank of China Limited, Singapore Branch, DBS Bank Ltd, The Hongkong and Shanghai Banking Corporation Limited, Oversea-Chinese Banking Corporation Limited and Standard Chartered Bank (Singapore) Limited.
Antanium Resources Pte Ltd
Pacific Radiance Limited
Securities Investors Association (Singapore)
- Advised Heliconia Capital Management on the $3.5bn debt restructuring of and investment into Pacific International Lines.
- Advised the informal steering committee of lenders on the $3.85bn debt restructuring of Hin Leong.
- Advised Brightoil Petroleum on its $916m debt restructuring.
Rajah & Tann Singapore LLP has an outstanding record in the restructuring and insolvency field. It has a large team dedicated to the discipline, which routinely lands the major engagements in the market. It has wide regional coverage and a diverse client base of debtors, creditors, liquidators and other major stakeholders. It has consistently led the market in the shipping and offshore sector, along with the energy and oil and gas sectors. Commodities, consumer goods, engineering and financial institutions are also key industries for the practice, among others. Lee Eng Beng SC is an eminent figure in contentious insolvency, and Patrick Ang is widely recognised for corporate restructuring and insolvency. Sim Kwan Kiat, Chua Beng Chye, Sheila Ng and Mark Cheng are also key members of the team.
Sim Kwan Kiat; Chua Beng Chye; Sheila Ng
Other key lawyers:
Lee Eng Beng SC; Patrick Ang; Mark Cheng
‘Leading firm with a broad and excellent disputes and insolvency practice.’
‘Mark Cheng is an exceptional lawyer with excellent knowledge and commercial awareness. He is proactive and pragmatic.’
‘Regionally very strong with a strong team.’
‘Chua Beng Chye – Technically very strong.’
‘Largest law firm in Singapore with a very strong R&I department. Known for vast experience and involvement in most major restructuring in Singapore.’
‘Sheila Ng, young but very smart and way ahead of her peers. Strong legal knowledge and also very good commercial sense, always able to balance the 2 and provide commercially feasible legal solutions.’
‘R&T’s R&I practice is lead by very senior, experienced practitioners and at the same time have built up the next generation of their team. As R&I often involves other practice areas, the R&I team involves other specialist teams as required eg corporate, capital markets, real estate, shipping. 1 of their key differentiators is that they have a very strong shipping practice.’
‘Patrick Ang, Lee Eng Beng SC, Sim Kwan Kiat, Sheila Ng – all of them are top notch lawyers in the R&I field , very strong technically but also commercial. They also leverage on the breadth of expertise in their firm by bringing in the right teams as required.’
Hin Leong Group – Hin Leong Trading Pte Ltd, Ocean Tankers Pte Ltd
Shanghai Huaxin Group (Hong Kong) Limited
H&C S Holdings Pte Ltd
Agritrade International Pte Ltd
SAM Trade group
Hontop Energy (Singapore) Pte Ltd
Ryobi Kiso Holdings Ltd and its subsidiary, Ryobi Kiso (S) Pte Ltd
Ezion Holdings Limited
Swiber Holdings Limited and Swiber Offshore Construction Pte Ltd
Tendcare Medical Group Holdings Pte Ltd
Nam Cheong Limited
Coastal Oil Singapore Pte Ltd
- Advised Hin Leong Trading and Ocean Tankers on the $4.59bn debt restructuring exercise of Hin Leong group, one of Asia’s biggest oil traders, involving more than 23 creditors from multiple jurisdictions.
- Advised Shanghai Huaxin Group (Hong Kong) on its $14.5bn liquidation.
- Acted for H&C S Holdings in applying for an enhanced moratorium under Section 211B of Singapore’s Companies Act 2007.
WongPartnership LLP is at the forefront of the market, particularly in relation to acting for debtors and distressed investors. As part of its impressive pipeline of business it has represented key stakeholders in the headline restructurings of Pacific International Lines, Xihe Holdings and Hyflux. In Pacific International Lines’ restructuring, the court process was concluded in only four months. Manoj Sandrasegara is highly rated in the market and he has been joined by top practitioner Smitha Menon as head of the practice. Chou Sean Yu provides additional senior-level contentious insolvency expertise and Mark Choy is rated for special situations transactions.
Manoj Sandrasegara; Smitha Menon
Other key lawyers:
Chou Sean Yu; Mark Choy; Clayton Chong; Lawrence Foo; Tan Kai Yun; Joel Chng; Stephanie Yeo
‘Great to work with, collaborative and willing to find solutions that meet the needs of all parties at the table.’
‘Manoj Sandrasegara is a familiar face in the industry and is well-respected. This makes it easier to do deals, whether he is on your side or across the table.’
‘Smitha Menon – resourceful, able to digest complex problems and identify key actions that need to be taken, always prompt and attentive to needs of client and assist particularly with problem solving. Tan Kai Yun – astute and intelligent in legal analysis, clear in her advice to the client, able to think several steps ahead to anticipate issues and prepare litigation strategies. Lawrence Foo – Prompt and always keen to assist, able to find solutions to complicated financial problems faced by the client or creditors.’
‘I have worked with Tan Kai Yun. She is prompt and explicit in her legal recommendations and constantly provides value added services to us. I would highly recommend her in further projects where legal services are required.’
‘Manoj Sandrasegara is one of the leading insolvency experts in Singapore. He is also a great leader.’
‘Stephanie Yeo is an incredibly talented lawyer with a vast understanding of the law and the transactional aspects of a corporate restructuring. She gets the deal done.’
‘Clayton Chong is an incredibly talented lawyer with a deep understanding of the legal and financial aspects of insolvency and restructuring. A great lawyer to have around in a situation of financial distress.’
‘Joel Chng is an experienced lawyer and at the same time a humble and friendly counterparty. It has been enjoyable working with him on an ongoing matter.’
Pacific International Lines (Private) Limited
Ernst & Young
FTI Consulting Singapore
PricewaterhouseCoopers Consulting (S) Pte. Ltd
Hong Kong and Shanghai Banking Corporation (HSBC)
Deloitte & Touche
Wirecard Asia Holdings Pte Ltd
Oversea-Chinese Banking Corporation (OCBC Bank)
ABN AMRO, Singapore Branch
Ad Hoc Committee of Noteholders of Noble Group Holdings Limited
EMAS Chiyoda Subsea Limited and its subsidiaries
DBS Trustee Limited
Keppel Corporation Limited
Keppel Oil & Gas Pte. Ltd.
Crest Investment Holdings Pte. Ltd.
Seadrill New Finance Limited
Liberty Insurance Pte. Ltd.
Barclays Bank PLC
BlackOak LLC specialises in corporate restructuring, insolvency, distressed transactions and special situations. It has also been at the forefront of third party litigation funding in insolvency proceedings. It represents a range of creditors, bondholders, liquidators and administrators, distressed investors and other stakeholders. It has a strong regional profile, taking on engagements from around Asia Pacific. The team is led by immensely experienced figure Ashok Kumar, who has practised for more than 30 years, and the increasingly prominent Darius Tay.
Other key lawyers:
‘This practice is unique because of its debtor side practice specialising in Singaporean court restructurings, especially with regional cross border restructurings. I think this firm has one of the deepest understanding of Singaporean court restructurings of any firm which when combined with their strong understanding of regional businesses/legal challenges and cultures makes them a very formidable firm. I much prefer BlackOak to most international firms when it comes to the Singapore court work.’
‘Another element of their practice I like is the fact that they are independent of the large firms with an extensive network and commercial ties to banks.’
‘I have worked on a number of projects with Ashok and have always found him to be a consummate professional. His Singapore credentials are impeccable which is complemented by his deep local and regional network. The fact that he is also UK Barrister is very useful given the preponderance of regional financing contracts using UK law.’
Informal Steering Committee of Medium Term Noteholders of the Hyflux Group
Grant Thornton Singapore Private Limited
Ad hoc Committee of Noteholders in the restructuring of Blue Ocean Resources Limited
TransAsia Private Capital Singapore Pte Ltd
The Riverbed Group
Mayer Brown International LLP
Kirkland & Ellis LLP
Bain Capital Credit L.P.
Bank of Nova Scotia
Argentem Creek Partners LLP
- Advised the informal steering committee in relation to PT Pan Brothers in its negotiations with the company and its Singapore counsel to restructure the committee’s debts of some $138m.
- Advised the ad-hoc committee of senior creditors of China Fishery Group on restructuring of senior debt.
- Advised the ad-hoc committee of senior creditors of Blue Ocean Resources Limited on the restructuring of debt.
Dentons Rodyk has a solid local and regional profile in restructuring and insolvency matters. The firm has a strong standing in both restructuring and insolvency matters and represents a mixture of creditors, debtors, liquidators and other stakeholders. It continues to demonstrate its capabilities in bond and bank debt restructurings. Ajinderpal Singh and Kia Jeng Koh are co-heads of the department, and Debby Lim, Siang Pheng Lek and Herman Jeremiah are also experienced figures.
Ajinderpal Singh; Kia Jeng Koh
Other key lawyers:
Siang Pheng Lek; Herman Jeremiah; Debby Lim
‘Very good and experienced in insolvency and restructuring. Practical advice even in complicated situations’
‘Debby Lim is an excellent lawyer, willing to spend the extra time on issues to come up with practical solution.’
Perpetual (Asia) Limited
Pacific Radiance Ltd
Kovan Treasures Pte Ltd
UHP Holdings Pte Ltd
Sky Smart Venture Ltd
Grant Thornton Singapore Pte Ltd
JK Medora & Co LLP
L&M Foundation Specialist Pte Ltd
- Acted for Perpetual (Asia) Limited, the trustee for the holders of the Perpetual Securities, in connection with the restructuring of Hyflux.
- Acted for Pacific Radiance in the consensual sale agreement entered into with secured lenders and an affiliate of ENAV Offshore Mexico for the transfer of 33 secured vessels as part of a debt restructuring plan.
- Advised Kovan Treasures on the restructuring and insolvency of Rich-Link Construction relating to the Stars of Kovan Project.
Morgan Lewis Stamford LLC
Morgan Lewis Stamford LLC‘s history with listed companies, means it is regularly engaged as debtor’s counsel in large corporate restructurings. In addition, it has a fine record in representing creditors and white knight investors. The firm is also well-established in the contentious insolvency field. Bernard Lui heads the firm’s corporate and business transactions practice, and has a long track record in corporate restructurings, as does Ng Joo Khin. Wendy Tan and Daniel Chia provide extensive expertise in contentious restructurings and insolvencies.
Bernard Lui; Wendy Tan
Other key lawyers:
Daniel Chia; Ng Joo Khin
PetroChina International (Singapore)
Alpha Energy Holdings Limited
No Signboard Holdings Ltd
COSCO Group of companies – Sinfeng Marine Services Pte. Ltd. and Cosco Petroleum Pte Ltd
Charisma Energy Services Limited
Hoe Leong Corporation Limited
Shanghai Shipyard Co. Ltd.
Hiap Seng Engineering Ltd
Bright Northstar Capital Management Pte Ltd.
Vallianz Holdings Limited
Riau Superstores Fund I Limited
Rain Asia Pacific Pte Ltd
- Advised PetroChina on various issues arising out of the collapse of Hin Leong Trading and its shipping arm, Ocean Tankers, as well as its shipowning arm, Xihe Holdings.
- Advised Vallianz on the consensual debt restructuring of approximately $145m owed by the Vallianz group to two banks.
- Represented No Signboard Holdings, NSB Restaurants and NSB Hotpot in successful interlinked applications for moratorium relief under Section 64(1) of the IRDA.
Shook Lin & Bok LLP has an outstanding restructuring and insolvency practice led by two highly celebrated practitioners in top litigator and insolvency specialist Sarjit Singh Gill SC and R&I specialist David Chan. The two have excellent connections to creditors and liquidators/judicial managers. The firm has gained prime roles in a series of recent restructurings and insolvencies, including the Hin Leong bankruptcy. It continues to land a number of fraud-related matters. Daniel Tan is another emerging talent. NG Yeow Khoon is also rated by clients.
Sarjit Singh Gill SC; David Chan
Other key lawyers:
Ng Yeow Khoon
‘Readily able to provide legal advice pertaining to specific circumstances of our cases and to explain the rationale and consequences.’
‘Able to consider commercial angle in evaluation the situation and offer a more practical approach for resolution.’
‘Ng Yeow Khoon – friendly and approachable and always ready to help if available. Practical and commercial elements combined with legal perspective helps to save time and cost too.’
‘Commercial understanding and an astutely practical approach to finding solutions.’
Envy group of companies
Hongkong and Shanghai Banking Corporation Limited
The liquidators of AnAn Group
Gulf Petrochem FZC
Deloitte Touche Tohmatsu
Hoe Leong Corporation Limited
Messrs Andrew Grimmett and Lim Loo Khoon of Deloitte and Touche LLP
DBS Bank Ltd
Industrial Bank of Korea
Liquidators of Ultra Singapore Pte Ltd
Infrastructure Leasing & Financial Services Limited
Standard Chartered Bank
Xihe Capital (Pte) Ltd
An Wei Shipping Pte Ltd
Da Hui Shipping (Pte) Ltd
An Ping Shipping Pte Ltd
Da Hua Shipping Pte Ltd
Da Jiang Shipping Pte Ltd
Da Kang Shipping Pte Ltd
Da Wei Shipping Pte Ltd
Xin Jiang Shipping Pte Ltd
Xin Rong Shipping Pte Ltd
SC Aetas Holdings Pte Ltd
- Advised the interim judicial managers of three entities in the Envy group of companies in the conduct of the interim judicial management.
- Acted for the Hong Kong and Shanghai Banking Corporation, the single largest creditor of Hin Leong Trading, in the collapse of the Hin Leong group of companies.
- Acted for and advised SuperPark Oy and the interim judicial managers of SuperPark Asia Group in the cross-border restructuring of SPAG, which runs and operates indoor activity parks across Finland, Sweden, China, Hong Kong, Singapore and Malaysia.
Harry Elias Partnership
Harry Elias Partnership has a fine record in contentious insolvency matters and court proceedings related to restructuring processes. It frequently acts for accounting firms in debt restructuring, judicial management and scheme of arrangement cases, including seeking the grant of scheme of arrangement in the Singapore High Court. It has extensive expertise in construction and engineering, real estate, and banking and financial institutions. Justin Chia heads the firm’s restructuring and insolvency group.
First Abu Dhabi Bank PJSC Singapore Branch
PT. Eastern Asia Engineering, PT. Jesindo Artha Abadi
Vantage Shipbrokers Pte Ltd
KordaMentha Pte Ltd
Standard Chartered Bank / Standard Chartered Bank (Singapore)
DBS Bank Ltd
RHB Bank Berhad
Deloitte & Touche Financial Advisory Services
Baker Tilly TFW LLP
Nexia TS Risk Advisory Pte Ltd
Government of Singapore – Singapore Land Authority
Manchester United Football Club Limited
DNV GL Singapore Pte Ltd
Sodexo Singapore Pte Ltd
City Developments Ltd
HSBC Institutional Trust Services (S) Ltd as Trustee of Ascendas
Real Estate Investment Trust
DBS Trustee Ltd as Trustee of Mapletree Commercial Trust
Raffles Medical Group Ltd
BRC Asia Ltd
Conchubar Aromatics Ltd / UVM Investment Corporation
SuperInternet Pte Ltd / SuperIntenet Access Pte Ltd
SMRT Corporation Ltd
X Collective Pte Ltd
Sustained Land Pte Ltd
Eaton Industries Pte Ltd
GAM Kimura Commodity Trade Finance Fund Limited (fka
Kumura Master Fund Limited)
- Acted for HSBC Institutional Trust Services in its claims for over S$108m against the Hyflux Group.
- Acted for Raffles Hospital, South Beach Consortium and CDL Properties as creditors of Dimbulah Coffee, which had applied to the court for a pre-scheme moratorium.
- Advised Envysion Wealth Management on its multi-million dollar claims against the Envy Group, which faced interim judicial management and a police investigation for a fraudulent scheme.
Oon & Bazul LLP
Oon & Bazul LLP has made a strong impact on the market in recent years. It has made an impression in cross-border contentious restructurings and insolvencies, involving Singapore proceedings. It is also noted for debtor-in-possession (DIP) financings. The firm is particularly known for company-side engagements. Meiyen Tan and Keith Han are the lead partners.
Meiyen Tan; Keith Han
‘Meiyen Tan has built an incredible franchise from scratch for Oon & Bazul as a non-bank affiliated restructuring and insolvency practice. The practice is very refreshing to deal with as there are fewer conflict risks and they are not dependent on the largesse of the major lenders etc.’
The real value that I have detected is their ability to quickly analyse and evaluate a problem and offer solutions many of which are intangible. Most legal court work is binary in the sense of winners and losers – If you are a borrower, shareholder or a company in difficulties, as much as the court theatre is important so too is the behind the scenes work that goes into resolving problems.’
‘Meiyen Tan is simply amazing, her capacity for dealing with complicated creditor and legal dynamics is very unique.’
Xihe Capital Pte. Ltd. and its subsidiaries
TEE International Limited and its subsidiaries
GLAS SAS (London Branch)
Wirecard Acquiring & Issuing Gmbh and Wirecard AG (in liquidation)
Apollo Aquaculture Group Pte Ltd and Apollo Aquarium Pte Ltd
Asia Process Industries Pte Ltd (In Liquidation)
Ascentra Holdings, Inc (in Official Liquidation)
AEI Co, Ltd (in Official Liquidation)
Zetta Jet Pte Ltd and Zetta Jet USA Inc.
TransAsia Private Capital Limited
Mencast Holdings Ltd and 10 of its subsidiaries
PT Modernland Realty Tbk and its subsidiaries
Achwell Sdn. Bhd
PT. Bumi Hasta Mukti and PT. Pertalahan Arnebatara Natuna
PT MNC Investama Tbk
honestbee Pte. Ltd.
Agritrade International (Pte) Ltd and its subsidiaries
- Represented the Xihe Capital Group in the restructuring of their debts and various court proceedings and mediation sessions.
- Represented PT MNC Investama in the restructuring of its $213m worth of 9% senior secured notes listed on the SGX.
- Represented PT Modernland Realty and its subsidiaries in the restructuring of the $150m 10.75% guaranteed senior notes due 2021 issued by JGC Ventures.
Tan Kok Quan Partnership has landed a number of major engagements in the restructuring and insolvency field. Acting for both creditors and companies, the firm has close connections to banks, accountancy firms (including Big Four and second tier firms) and is able to leverage its strong background in dispute resolution. Eddee Ng and Paul Seah are responsible for building up the firm’s standing in this area and continue to develop its bank and accountants client base.
Other key lawyers:
‘Eddee Ng is an excellent advocate and a great strategist’
Koon Holdings Ltd
Koon Construction & Transport Co Pte Ltd
Warehouse Logistics Net Asia Pte Ltd
Mizuho Bank, Ltd
KFW IPEX-Bank GmbH
Bangkok Bank Public Company Limited
Standard Chartered Bank (Singapore Branch)
CTBC Bank Co., Ltd
The Korea Development Bank
Bank of Kaohsiung (Offshore Banking Branch)
Bank of Taiwan (Singapore Branch)
Chang Hwa Commercial Bank (Singapore Branch)
E.SUN Commercial Bank Ltd. (Singapore Branch)
First Commercial Bank, Ltd. (Singapore Branch)
Hitachi Capital (Hong Kong) Limited
Hua Nan Commercial Bank, Ltd. (Singapore Branch)
Land Bank of Taiwan (Singapore Branch)
Mega International Commercial Bank Co., Ltd. (Singapore Branch)
PT Bank Rakyat Indonesia (Persero) Tbk (Singapore Branch)
TSMP Law Corporation brings a multidisciplinary perspective to the restructuring and insolvency field. With its extensive resources of transactional and disputes lawyers, it is able to take on a steady pipeline of contentious insolvency, debt restructuring and workouts, and creditor rights matters. Thio Shen Yi SC is a big name litigator with a fine record in insolvency cases.
Thio Shen Yi SC; Stefanie Yuen Thio
Jurong Port Pte Ltd
Mizuho Bank of Japan
AlmaStone Opportunities I Limited
Former director of ZenRock
Hontop Energy (Singapore) Pte Ltd / Wanda Holding Group Co Ltd
Skomer Investments Designated Activity Company
UOB Bank Ltd
Hong Leong Finance
Dr Goh Jin Hian
Xihe Holdings (Pte) Ltd (Judicial Managers Appointed)
Deloitte & Touche LLP
Shanghai Yinjun Industry
Norwegian government-linked entity
MHG Cars Pte Ltd
(1) Providence SOFG2 Limited|(2) Long Chee Tim Daniel|(3) Terrance Tan Kong Hwa
Riviera Holdings Co., Ltd.
Allen Law and Park Hotel Group Management Pte Lte
- Acted for Jurong Port in its acquisition of a 41% stake in Universal Terminals from the Hin Leong Group.
- Advised Mizuho Bank of Japan, Hyflux’s second largest creditor and the largest non-secured creditor in Hyflux’s restructuring.
- Acted for AlmaStone Opportunities I, a creditor in the $624.5m restructuring of Antanium Resources.
Virtus Law LLP has a fine record in transport and offshore sector restructurings and insolvencies. The firm is closely associated with the shipping industry, which has resulted in a stream of mandates relating to workouts, restructurings, and enforcement of ship finance transactions. Its Formal Law Alliance with Stephenson Harwood LLP brings it further credibility in cross-border matters. Lauren Tang is a recognised specialist in maritime restructurings in the region. Jason Yang is also rated.
Daryll Ng; Lauren Tang; Jason Tang
‘Good technical expertise. Bench is strong and handled the day to day work very well.’
‘Excellent project management. good attention to details.’
iflix Pte. Ltd., iflix Holdings Pte Ltd, iflix International Pte Ltd
China Navigation Company Pte. Ltd. and Swire Bulk Holdings Pte. Ltd.
ICBC Aviation Leasing
Volatility Token Master Fund
Syndicate comprising three banks
Berge Bulk Shipping and other major creditors
- Acted for two major secured lenders on the collapse Hin Leong Trading, Xihe Holdings and Ocean Tankers, with an exposure of well over $500m.
- Advised the iflix group on its group restructuring and securing one of the first pre-pack schemes under Singapore’s Insolvency, Restructuring and Dissolution Act.
- Advised a syndicate comprising three banks on a restructuring, and eventual full prepayment, of a loan facility involving four Sinosure-backed bareboat charters with Pacific International Lines.
Withers KhattarWong LLP‘s background in private investment and financing, brings it a reputation for representing private investors in the investment, acquisition and financing of distressed assets and companies in the region. It also has an established record in restructurings in Indonesia. Justin Yip is a specialist in insolvencies, debt restructurings, corporate rescues and workouts, and special situations transactions; he led the team that advised the liquidators on the attempted restructuring and subsequent insolvency of ZenRock.
‘Very responsive, solid client management, good knowledge and dedicated.’
KPMG (as liquidators of ZenRock Commodities Trading Pte Ltd)
FTI Consulting (as Judicial Managers/Liquidators of 6 SPVs of Xihe Capital Pte Ltd)
United Overseas Bank Limited
The Hongkong and Shanghai Banking Corporation Limited
UOB Kay Hian Credit Pte Ltd
Yaw Chee Siew
ESR-REIT (including its sub-trust VIVA REIT)
Luxasia Pte Ltd
Blue Ocean Resources Pte Ltd
- Acted for the liquidators (from KPMG) in all aspects of the attempted restructuring and subsequent insolvency of ZenRock.
- Acted for FTI Consulting in its capacity as the judicial managers/liquidators of six SPVs owned by Xihe Capital, which collectively own 15 vessels (including unfinished vessels).
- Advised UOB in various debt and security restructuring matters of borrower groups.