Rising Stars

Firms To Watch: Restructuring and insolvency: local firms

Providence Law Asia LLC is gaining recognition for its specialisation in debt restructuring and insolvency proceedings.

Restructuring and insolvency: local firms in Singapore

Allen & Gledhill LLP

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.

Practice head(s):

Yee Leong Chong; Edward Tiong

Other key lawyers:

Andrew Chan; Kenneth Lim; Tham Hsu Hsien


‘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.’

Work highlights

  • 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

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.

Practice head(s):

Sushil NairJulian Kwek

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.’

Key clients


CVC Partners

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)

KrisEnergy Limited

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)

Work highlights

  • 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

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.

Practice head(s):

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.’

Key clients

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

Hyflux 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

Swissco Group

Nam Cheong Limited

Coastal Oil Singapore Pte Ltd

Work highlights

  • 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

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.

Practice head(s):

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.’

Key clients

Pacific International Lines (Private) Limited

Grant Thornton

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)

DBS 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.

CCB International

ITOCHU Corporation

Barclays Bank PLC

BlackOak LLC

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.

Practice head(s):

Ashok Kumar

Other key lawyers:

Darius Tay


‘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.’

Key clients

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.

SC Lowy

Bank of Nova Scotia

Argentem Creek Partners LLP

Work highlights

  • 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

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 LimSiang Pheng Lek and Herman Jeremiah are also experienced figures.

Practice head(s):

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.’


Key clients

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

Work highlights

  • 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.

Practice head(s):

Bernard Lui; Wendy Tan

Other key lawyers:

Daniel Chia; Ng Joo Khin

Key clients

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

Work highlights

  • 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

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.

Practice head(s):

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.’

Key clients

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

DZ Bank

ING 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

Work highlights

  • 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.

Practice head(s):

Justin Chia

Key clients

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)

Work highlights

  • 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.

Practice head(s):

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.’

Key clients

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

Work highlights

  • 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

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.

Practice head(s):

Eddee Ng

Other key lawyers:

Paul Seah


‘Eddee Ng is an excellent advocate and a great strategist’

Key clients

Koon Holdings Ltd

Koon Construction & Transport Co Pte Ltd

Warehouse Logistics Net Asia Pte Ltd

BNP Paribas

Mizuho Bank, Ltd


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)

Work highlights

TSMP Law Corporation

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.

Practice head(s):

Thio Shen Yi SC; Stefanie Yuen Thio

Key clients

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

Work highlights

  • 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

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.

Practice head(s):

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.’

Key clients

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

BNP Paribas

Berge Bulk Shipping and other major creditors

Work highlights

  • 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

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.

Practice head(s):

Justin Yip


‘Very responsive, solid client management, good knowledge and dedicated.’

Key clients

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

Work highlights

  • 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.