Restructuring & Insolvency

Our team is experienced in dealing with various corporate insolvency, personal bankruptcy and business restructuring situations. In addition to representing both creditors (enforcement of security and court representation)  and debtors (court applications for moratoriums, schemes of arrangement, advising and representing management), we also regularly act for and advise insolvency professionals in their capacity as liquidators, judicial managers, financial advisors, restructuring officers receivers and private trustees, with a view towards the preservation and recovery of assets.

Our strength in cross-border dispute resolution and our independent, conflict free practice allows us the unique opportunity to take on challenging roles in large cross-border and multi-party distressed situations. As the firm is regularly instructed by various domestic, international and offshore law and accounting firms, these strong working relationships offers our firm an advantage during multi-party deal situations. In this constantly evolving legal landscape where a myriad of solutions or workarounds are available, our focus is always towards creating value for the client and to systematically weigh the risks and benefits to ensure that the client’s priorities are met.

Our lawyers have represented clients on contentious and non-contentious insolvencies and are equipped to deal with various aspects of business rescue, restructuring, and insolvency, including:

  • Acting for a Singapore chemicals company in a US$2.4 billion restructuring project involving a scheme of arrangement which resulted in landmark insolvency judgments in Re Chochubar Aromatics [2016] SGHC 279 and SK Engineering & Construction Co Ltd v Conchubar Aromatics Ltd [2017] SGCA 51
  • Acting for COB Technology Pte Ltd on a scheme of arrangement to restructure approximately S$94 million of the company’s debt.
  • Acting for liquidators from a leading audit firm in a members’ voluntary winding up of a group of companies with assets of approximately S$302 million comprising, inter alia, real estate, shares and antiques.
  • Acting for Aaron Loh & Angela Ee of Ernst & Young Solutions LLP, as liquidators of Griffin Real Estate Investment Holdings Ptd Ltd, in taking a range of enforcement actions to recover over S$50 million from the company’s former directors and various third parties.
  • Acting for Cosimo Borrelli of Borrelli Walsh, as liquidator of Kamadhenu Ventures Pte Ltd, in investigating into the company’s dealings with BVI entities, which resulted in in seeking Norwich Pharmacal orders in the BVI and conducting public examination of the former director in the Singapore Courts.
  • Acting for a Cayman Island venture capitalist fund in the recovery of various outstanding amounts arising from syndicated loan transactions totaling over US$50 million, which involved the enforcement of a share charge, obtaining summary judgments against the corporate and personal guarantors, resisting SIAC proceedings by the debtor, resisting certain reliefs sought by the debtor during a UNCITRAL Model Law on Cross-Border Insolvency recognition application.
  • Acting for the BVI liquidators of Six Capital Investments Limited in various recovery actions with respect to a debt of over US$143 million and in seeking and obtaining recognition of the BVI winding up proceedings in Singapore under the UNCITRAL Model Law on Cross-Border Insolvency.
  • Acting for SEF Construction Pte Ltd and its directors in scheme of arrangement and individual voluntary arrangement proceedings relating to the restructuring and liquidation of the company’s pre-fabrication business involving debts of over S$100 million and the sale of a specialized integrated plant.
  • Acting for companies in the Agri Asia group which are related to the Agritrade International group, where professionals from Ernst & Young have been appointed as judicial managers.
  • Acting for various HNWIs in applying for voluntary arrangements before the Singapore High Court to restructure multi-million personal debts arising from corporate business failures and economic downturns.

CONTACT US
PROVIDENCE LAW ASIA
20 Collyer Quay #21-02 Singapore 049319
P: +65 6438 1969 | E: info@providencelawasia.com

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