An engaging and insightful discussion on Singapore’s Simplified Debt Restructuring Programme (“SDRP”) and Simplified Winding Up Programme at the iPAM / INSOL Asia Hub webinar held on 21 April 2022.
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Mulhacen Pte Ltd completed the EUR515 million Notes restructuring via exchange offer and consent solicitation on 18 March 2022.
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DHC Capital’s submission dated 9 September 2021 was published on the Australian Government (The Treasury) (“The Treasury”) website in March 2022.
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David Chew appointed as Chair of Chartered Accountants Australia and New Zealand (“CA ANZ”) Singapore Overseas Regional Council for 2022. David Chew was Vice-Chair in 2021.
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An engaging and insightful panel discussion on “Rescue Financing” at the Legal Era 6th Annual Insolvency Summit 2021 held on 8 October 2021.
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An engaging and insightful discussion on “Recent Developments in Rescue Financing in Singapore: A Case Study Approach” at the SMU Law Academy webinar held on 15 July 2021.
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DHC Capital has been nominated as Chairperson of the scheme meetings and to report the results of the scheme meetings to the Court for Prosafe SE (OSX: PRS) and Prosafe Rigs Pte Ltd scheme of arrangement.
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Read on for the Business Times article on the resumption of share trading for Viking Offshore and Marine Ltd (SGX: 1Y1). The successful resumption of trading marks the completion of the restructuring and recapitalisation process, which involved a senior lender debt settlement, “pre-packaged” scheme of arrangement involving a debt for equity conversion and new equity injection.
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Capital World Ltd (SGX: 1D5) (“Capital World”) “pre-pack” scheme of arrangement was sanctioned by Court on 24 June 2021 pursuant to Section 71 of the Insolvency, Restructuring and Dissolution Act 2018. The Order of Court was lodged with the Accounting and Corporate Regulatory Authority of Singapore (ACRA) on 9 July 2021. The scheme is effective upon lodgement of the Order with completion subject to satisfaction of conditions precedents as set out in the scheme.
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DHC Capital Partner David Chew will be speaking at SMU Law Academy webinar on “Recent Developments in Rescue Financing in Singapore: A Case Study Approach” on 15 July 2021.
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Viking Offshore and Marine Ltd (SGX: 557) (“VOM”) “pre-pack” scheme of arrangement was sanctioned by Court on 28 May 2021. The scheme was approved by the requisite majorities of creditors on 13 April 2021.
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An engaging and insightful panel discussion on “Successful Debt Restructuring Strategies: Experience and Lessons Learnt” at the ALB Asia Debt & Debt Restructuring Forum 2021 held on 19 March 2021.
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DHC Capital has been appointed as independent financial advisor to the informal steering committee of Noteholders in the restructuring of S$101.75 million 7% Notes due July 2020 issued by Century Sunshine Group Holdings Ltd (In provisional liquidation) (For restructuring purposes only) (HKEX: 509) (“CSG”).
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Read on for the GRR article on the sanction of the Pacific International Lines (Pte) Ltd (“PIL”) US$1 billion scheme of arrangement on 3 March 2021. The successful sanctioning of the scheme marks the completion of the Court supervised process in one of the largest debt restructurings in Singapore enacted under the Insolvency, Restructuring and Dissolution Act 2018 (and its predecessor laws in the Companies (Amendment) Act 2017, which came into force on 23 May 2017).
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David Chew was appointed as Vice Chair of Chartered Accountants Australia and New Zealand (“CA ANZ”) Singapore Overseas Regional Council.
David Chew, DHC Capital Partner, said “I am delighted to be appointed as Vice Chair of CA ANZ Singapore Overseas Regional Council. I look forward to working closely with the new Chair and the Council in Singapore on key member issues and strategic policy.”
DHC Capital was selected by the Ministry of Law to be on the Panel of Restructuring Advisors for the provision of case administration services for micro and small companies (“MSCs”) undergoing debt restructuring under the Simplified Insolvency Programme (“SIP”).
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The Pacific International Lines (Pte) Ltd (“PIL”) scheme meetings were held on 1 February 2021, at which the scheme creditors in the four classes of creditors voted in favour of the proposed scheme of arrangement. The scheme of arrangement is part of a comprehensive debt restructuring and recapitalisation plan involving a capital injection from a new investor in the amount of US$600 million. DHC Capital Partner, David Chew acted as Chairman of the scheme meeting and proposed Scheme Manager.
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Read on for the GRR article on the completion of the first pre-packaged scheme under Singapore’s Insolvency, Restructuring and Dissolution Act (“IRDA”).
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DHC Capital acted as lead financial advisor and scheme manager to iflix Pte Ltd on the first “pre-packaged” scheme of arrangement in Singapore under Section 71 of the Insolvency, Restructuring and Dissolution Act 2018 (Act 40 of 2018) (“IRDA”).
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“Don’t judge each day by the harvest you reap, but by the seeds that you plant”
-- Robert Louis Stevenson
What a year!
The COVID-19 pandemic continues to bring enormous challenges as we adapt to a new normal. Some countries have performed well with quick intervention and financial support to limit the number of infections and damage to the economy.