DOMAIN EXPERTS.

We are no strangers to the scene. As a dedicated distress situations practice, we act on all sides of the process, representing a gamut of stakeholders including insolvency professionals, debtors, creditors, funds, and white knights.

BUSINESS SAVVY.

Law does not exist in a vacuum, and neither do we. We work closely alongside other industry professionals to provide business-driven and context-specific legal solutions in complex commercial situations.

PACK A PUNCH.

Our size and structure allow us to operate without the usual corporate baggage and bureaucracy. This means quicker turnarounds, far fewer business conflicts, and an unusually high level of senior involvement at small firm economics.

ON YOUR SIDE.

We are fully invested in our clients’ problems and do not shy away from difficult positions. Our reputation as effective negotiators and tough litigators means we are not afraid to valiantly defend your interests from boardroom to courtroom.

The rapidly changing financial landscape presents new legal challenges that require innovative solutions. We have been pushing new frontiers in almost every headline distress deal or transaction in the recent years and know what works and what doesn’t, in complex, cross-border matters.

• Advising PT Bakrieland Development Tbk, an Indonesian property development conglomerate which holds investments in projects in South-East Asia, and its local subsidiary BLD Investments Pte Ltd on the restructuring of 8.265% guaranteed equity linked bonds due 2015, issued by BLD and guaranteed by PT Bakrieland, by way of a scheme of arrangement which involved the first worldwide moratorium under Singapore law. The scheme was one of the first schemes to be approved by the Singapore High Court following the legislative amendments to Singapore’s insolvency and restructuring laws in 2017.
• Acting as Singapore counsel for an ad-hoc committee of noteholders of Blue Ocean Resources Pte Ltd, a Singapore company incorporated by PT Central Proteina Prima Tbk, on the restructuring of Blue Ocean’s 11% guaranteed senior secured notes due 2012. This brief involved a novel application replace the claims adjudication procedure legislated under the Companies Act with a proposed adjudication procedure more suited for bond restructurings and with a compressed timeline.
• Acting as Singapore counsel for an informal steering committee of noteholders in relation to the Hyflux Group’s USD 2 billion debt restructuring exercise.
• Acting for an informal steering committee of holders of USD 150 million, 8.75% senior secured bonds due 2018 in relation to Miclyn Express Offshore Pte Ltd’s restructuring exercise.
• Advising and representing the liquidators of Power Solar System Co., Ltd in its ongoing USD197 million claim against a formerly related company within the greater Suntech Power. Notable highlights include successfully obtaining a worldwide Mareva injunction from the Singapore High Court in 2014. In July 2018, the Singapore High Court gave judgment for Power Solar System Co. Ltd (Power Solar System Co Ltd (in liquidation) v Suntech Power Investment Pte Ltd [2018] SGHC 233).
• Part of the team advising the provisional liquidators of Mongolian Mining Corporation on a suite of debt-restructuring proposals, including the restructuring of secured notes by way of cross-border schemes of arrangement.

• Advising the liquidators of Trikomsel Pte Ltd and Trikomsel Singapore Pte Ltd, Singapore subsidiaries of Indonesian telecommunications conglomerate, PT Trikomsel Oke Tbk, on claims against certain third parties in respect of antecedent transactions. A notable highlight of the brief was obtaining court approval for a commercial third-party litigation funding agreement.
• Advising and representing the liquidators of Vanguard Energy Pte Ltd (which had revenues in excess of USD1 billion) in various aspects of the liquidation that included litigating across a number of jurisdictions. Highlights in this brief include successfully obtaining approval by the High Court of Singapore for litigation funding of insolvent companies.
• Acting as local counsel in relation to the global dissolution of Lehman Brother Holdings Inc’s subsidiaries and related entities worldwide.
• Acting as local counsel for Gulf Pacific Shipping Limited, a wholly owned subsidiary of STX Pan Ocean (Hong Kong) Co Ltd, on matters arising out of the larger STX Pan Ocean Group’s global cross-border debt restructuring exercise. A highlight of the brief was obtaining court recognition of foreign liquidators appointed in the course of the company’s creditors’ voluntary liquidation. The decision in Re Gulf Pacific Shipping Ltd (In Creditors’ Voluntary Liquidation) [2015] SGHC 287 stands as a landmark of the Singapore court’s universalist approach.
• Acting as local counsel to Glencore Singapore on the contentious restructuring of Jurong Aromatics Corporation.
• Advising I.M. Skaugen SE on its application for moratorium orders under S211B Companies Act. This application was significant as it was the first to be brought by a foreign company. The ensuing reported judgment in Re IM Skaugen SE [2018] SGHC 259 currently stands as the leading decision in Singapore law on the extraterritorial effect of a worldwide moratorium and the statutory interpretation of S211B(4) Companies Act.