Milbank has cemented its position at the forefront of restructurings and insolvencies across Southeast Asia and the broader Asia Pacific region. Financial restructuring specialist Nicholas Dunstone, who joined the firm in 2023, has brought a stronger emphasis on representing funds, including private equity, hedge and private credit funds. Dunstone now splits his time between Singapore and London, and has a major focus on Asia Pacific, including Japan and South Korea. David Zemans (Singapore managing partner and Asia head), Jacqueline Chan and Giles Kennedy continue to bring outstanding corporate connections, providing a steady flow of debtor engagements, especially in Indonesia. Kennedy, in particular, has worked on a series of major bond restructurings for Indonesian issuers in recent times. Distressed acquisitions is another area of expertise for the Singapore team.
Legal 500 Editorial commentary
Accolades
Client satisfaction: Sector knowledge
Client satisfaction: NPS ®
Testimonials
Collated independently by Legal 500 research team.
‘Milbank's restructuring practice embodies a truly global business model, distinguished by profound regional precedents, specialised expertise, and a proven ability to devise unique, innovative solutions for complex challenges. This is complemented by robust local networks and deep-rooted relationships with key stakeholders, enabling the team to seamlessly facilitate transactions from initial origination through to successful completion.’
‘Jacqueline Chan is an exceptionally competent lawyer with a proactive drive to deliver outstanding results for her clients. She remains highly accessible, builds lasting relationships with both companies and clients while excelling in crafting innovative solutions to complex challenges.’
Key clients
- PT Modernland Realty
- GCL New Energy Holdings Limited
- BlackRock
- Goldman Sachs
- Tor Investment
- I Squared Capital
- Maybank Islamic Berhad
- CIMB Islamic Bank Berhad
- DBS Bank Ltd.
- PT Bank Mandiri
- Sumitomo Mitsui Banking Corporation
- PT Indomarco Prismatama
Work highlights
Advised the lenders to the Ambatovy Nickel and Cobalt Mine Project, on the negotiation and litigation of an English law restructuring plan for a project financing.
Advised the ad hoc group of bondholders of VNET Group on the restructuring negotiations relating to $600m of convertible bonds.
Represented the investors on a milestone $443m revenue bond issued by a newly incorporated Labuan subsidiary of AirAsia Berhad and secured against, amongst other collateral, the future revenue of AirAsia Berhad.
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Nicholas Dunstone
David Zemans
Practice head
David Zemans
Other key lawyers
Nicholas Dunstone; Jacqueline Chan; Giles Kennedy