The restructuring and insolvency practice group at Baker McKenzie LLP acts for clients on contentious and non-contentious corporate and debt restructurings, divestments and acquisitions of distressed businesses. Practice co-leader and experienced litigator Wynn Pakdeejit represents clients in insolvency and debt restructuring proceedings, while Paralee Techajongjintana is noted for her expertise in financial restructuring, stakeholders’ rights under bankruptcies and business reorganisations, as well as litigation in the bankruptcy court. Piyapong Panyachiva is also a key contact and acts for clients in debt restructuring, business rehabilitation and bankruptcy litigation.
Restructuring and insolvency in Thailand
Baker McKenzie LLP
Other key lawyers:
‘Paralee Techajongjintana is an excellent litigator.’
Credit Suisse AG
Bangkok Commercial Asset Management Co., Ltd.
Bank of China (Thai) Public Company Limited
Pacific Alliance Operating Fund LP
Panjapol Pulp Industry Public Company Limited & Panjapol Paper Industry Co., Ltd.
Amata Spring Development Company Limited
Official Receiver of the Bangkok Bank of Commerce Public Company Limited
All Season Property Company Limited
Macquarie Corporate Holdings Pty Limited
ICBC Standard Bank
- Advising the official receiver of one of the largest financial institutions in Thailand on the recovery of funds involving multiple jurisdictions.
- Representing a multinational investment bank in Thai reorganisation proceedings, analysing the risks of debt restructuring both in-court and out of court, and negotiate debt restructuring schemes while assisting the official receiver to retrieve assets from varying sources.
DLA Piper advises financial institutions and multinational corporations on financing and debt restructuring transactions, as well as bankruptcy matters, and leverages the expertise of the wider regional restructuring and special situations team, and the firm’s global presence in this space. Practice co-leader Waranon Vanichprapa acts for Thai and international banks and companies on restructuring and bankruptcy matters. Practice co-leader Timothy Tan has experience in debt finance and debt restructuring transactions across the Asia Pacific region, while Komson Suntheeraporn represents creditors in court-supervised rehabilitation proceedings.
Other key lawyers:
Bank of Ayudhya Public Company Limited
CIMB Bank (Thai) Public Company Limited
ASM Security Management Co., Ltd. (a subsidiary of Loxley Plc.)
Deutsche Bank, Hong Kong Branch
Tata Steel UK
Platinum Partners Value Arbitrage Fund
Clearwater Capital Partners
Christopher Kennedy and Matthew Wright of RHSW (Cayman) Limited
- Advising and representing both and all of the bondholder representatives in the court-supervised rehabilitation proceedings of Thai Airways International PCL.
- Representing a proposed white-knight investor in Royal Chemie in respect of the ongoing debt restructuring and recapitalisation of the group.
- Representing the Cayman Islands-based liquidators of a New York-based hedge fund in relation to certain equity investments held by the fund in Indonesia.
Weerawong, Chinnavat & Partners
Weerawong, Chinnavat & Partners advises domestic and international clients on restructuring and insolvency matters, as well as acting on cross-border negotiations for creditors and debtors and representing clients in litigation. Practice head Natthida Pranutnorapal has experience in business reorganisations and insolvency matters, and senior partner Weerawong Chittmittrapap is also noted.
Other key lawyers:
Sahaviriya Steel Industries Public Company Limited
Saha Farms Company Limited and Golden Line Company
Business Limited as EY Corporate Advisory Services Company Limited, rehabilitation plan administrator
EY Corporate Advisory Services Company Limited as the plan preparer of Energy Earth Public Company Limited
Triple T Broadband Public Company Limited
Export Import Bank of the United States
Jasmine Public Company Limited
Sahaviriya Plate Mill Public Company Limited
Bridge View Company Limited
Ladprao Plaza Company Limited
Pace Development Corporation Public Company Limited and
Dean & DeLuca Inc.
Tilleke & Gibbins
Tilleke & Gibbins advises creditors, debtors and other stakeholders on a range of matters, from submitting debt repayment applications during business rehabilitation and bankruptcy processes to the distribution of assets as a result of company closure, as well as reorganisations. Cynthia M. Pornavalai, who heads up the team with litigator Thawat Damsa-ard and Prisna Sungwanna, acts for clients on bankruptcy, insolvency and restructuring matters.
Other key lawyers:
Collins Aerospace, a Raytheon Technologies company
General Motors Thailand and General Motors Powertrain
- Assisted General Motors with several matters related to its decision to wind down much of their operations in Thailand, including the reduction of $425m in registered capital.
- Advising an American multinational financial services corporation on several matters related to Thai Airways’ insolvency and business rehabilitation petition, including assisting with the preparation and submission of a debt repayment application that was granted by the official receiver.
- Acting for a petrochemicals manufacturer to handle the Thailand portion of its global share restructuring project, which included the transfer of its subsidiary business in Thailand.
Watson Farley & Williams (Thailand) Limited handles insolvency procedures, debt restructuring, reorganisations and company restructurings. Christopher Osborne heads up the team and has experience in advising foreign creditors in Thai insolvency proceedings in the Bankruptcy Court, as well as acting for domestic companies on the commencement of rehabilitation debt restructuring proceedings.
Aircraft Maintenance and Engineering Corporation
ALAFCO Aviation Lease and Finance Co KS
Genesis Aircraft Services Limited
KEOS Aviation UK Limited
Allen & Overy (Thailand) Co, Ltd
Allen & Overy (Thailand) Co, Ltd’s Bangkok practice is noted for its expertise in handling debt restructuring and reorganisation mandates; the team also regularly collaborates with its other offices across the Asia Pacific region to act for multinational corporations, banks and other financial institutions on cross-border restructurings and insolvencies matters. Practice co-leader Stephen Jaggs advises clients in the transportation, power and energy sectors on restructuring matters, while practice co-leader Sarah Wilson focuses on the aviation sector.
- Advised a regional development bank on the drafting of a master template standstill agreement and integrated term sheet, along with guidance notes to be used as a base for all of their restructurings in the Asia Pacific region.