Global Restructuring Review

Tuesday, 3 March 2020, Maxwell Chambers

E-mail Tel: +44 20 3780 4296

Chairs

Milbank, Tweed, Hadley & McCloy

Jacqueline Chan is a partner in Milbank’s Singapore office and was previously resident in the firm's Hong Kong office. A recognized leader in her field, Jacqueline regularly represents many of the largest private equity and sovereign wealth funds, corporations, investment banks and financial institutions on complex restructurings, international M&A leveraged and acquisition finance transactions across the globe.

David Zemans

Milbank, Tweed, Hadley & McCloy

David H. Zemans is the Managing Partner of the firm's Singapore office and Milbank’s Asia Practice and a member of the firm's Global Executive Committee. David has been based in Singapore since 1997 and has extensive experience advising clients on many of the largest and most complex cross-border restructurings to have been successfully completed in Asia.

2019 Programme

12.30: Registration and networking lunch kindly hosted by Milbank LLP

13.00: Chairs’ opening remarks

David Zemans, Milbank LLP
Jacqueline Chan, Milbank LLP

13.10: Keynote speech

M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India

13.40: Session one: A stock take of developments in restructuring and insolvency regimes in Asia, from Singapore to India.

Over the past few years, Singapore and India have undertaken some exciting and extensive reforms in their restructuring and insolvency regimes. Looking at where we are in 2019, distressed situations in each of these countries have proliferated, and opportunities to find creative solutions are constantly being discussed. How have these regimes fared under such testing by the market?

Moderator:
David Zemans, Milbank LLP

Panel:
Justice Aedit Abdullah, Supreme Court of Singapore
Ashok Kumar, BlackOak
Sushil Nair, Drew & Napier
Sinjini Saha, Milbank LLP
Cyril Shroff, Cyril Amarchand Mangaldas

14.40: Coffee break

15.10: Session two: Roundtable discussion: Increasing your leverage in a restructuring in Asia

Finding leverage in a restructuring is an art: knowing when to move, where to move and whom to apply pressure to. Asian restructuring scenarios such as UTAC, BLT, Noble, Hyflux, and other complex situations have shown the value of applying leverage in arriving at positions. Sometimes the answer to leverage is structural, sometimes it is financial, and every so often it’s a completely new idea. But whichever, mastering the art requires a working knowledge of an ever changing legal and structural landscape.

In this session, leading names from across the restructuring market will use real life examples to discuss the art of leverage along with the essential question: would those techniques still bear fruit today?

Questions they are expected to discuss include:

How do you get leverage over structural subordination to local onshore creditors?
Is there a value in using Chapter 11 or a UK scheme of arrangement to complete Asian restructurings?
Are there different leverage strategies you would use across different jurisdictions?

Moderator:
Jacqueline Chan, Milbank LLP

Panel:
Nick Gronow, FTI Consulting
Debby Sulaiman, Hiswara Bunjamin & Tandjung
Hui Choon Yuen, WongPartnership
Wilson Zhu, Rajah & Tann

16.10: Coffee break

16.40: Session three: The espresso version of the GRR Live Question Time

A firm favourite, the GRR Live Question Time, will offer the audience a chance to propose their own questions in advance of the session. The audience are given an excellent opportunity to discuss their own questions directly with a panel of leading names, getting the answers they want to know about topical issues in restructuring.

Moderator:
Jacqueline Chan, Milbank LLP

Panel:
Darius Tay, BlackOak
Debby Sulaiman, Hiswara Bunjamin & Tandjung
Hui Choon Yuen, WongPartnership

17.10: Chairs’ closing remarks

David Zemans, Milbank LLP
Jacqueline Chan, Milbank LLP

17.20: Close of conference