DHC Capital advises on the first pre-pack scheme under the Simplified Debt Restructuring Programme

DHC Capital advised Axis Group Asia Pte Ltd on the first “pre-packaged” scheme of arrangement in Singapore under Section 72M of the Insolvency, Restructuring and Dissolution Act 2018. The “pre-packaged” scheme was sanctioned by Court on 28 June 2023. The scheme will become effective upon the Order of Court being lodged with the Accounting and Corporate Regulatory Authority of Singapore (ACRA).

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David Chew1-30
DHC Capital advises the informal steering committee of Noteholders on the Century Sunshine Group (HKEX: 509) scheme of arrangement; scheme creditors vote in favour of scheme

DHC Capital advised 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”). The scheme meetings were held on 15 June 2023 for the six scheme entities, at which the schemes were approved by the requisite statutory majorities of scheme creditors. The scheme terms offer an excellent outcome for the retail led Noteholders from an offshore China creditor return perspective.

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David Chew1-30
Insights – Key takeaways on valuations in restructuring from Strengthening Insolvency Systems in Asia and the Pacific Conference

An engaging and insightful panel discussion on valuation of assets and treatment of claims and contracts in insolvency proceedings at the Strengthening Insolvency Systems in Asia and the Pacific Conference held in Manila on 15-16 December 2022. The conference was co-organised by the Asian Development Bank, Singapore Management University, Singapore Global Restructuring Initiative, University of Chicago Law School’s Center on Law and Finance, University of Cambridge’s Centre for Corporate and Commercial Law and INSOL International.

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David Chew1-30
DHC Capital supports No Signboard Holdings Ltd (SGX: 1G6) on obtaining Court sanction of the schemes

The schemes of arrangement for No Signboard Holdings Ltd and its subsidiaries NSB Hotpot Pte Ltd and NSB Restaurants Pte Ltd were sanctioned by Court on 28 October 2022. The scheme meetings were held on 11 October 2022, at which the scheme companies obtained the approval of 100% in number and 100% in value from scheme creditors present and voting for each of the three schemes.

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David Chew1-30
DHC Capital concludes restructuring support on the Capital World Ltd (SGX: 1D5) pre-packaged scheme of arrangement

Capital World Ltd (SGX: 1D5) completed the allotment and issuance of the Scheme Shares (as defined in the Scheme) on 14 April 2022. The Scheme Shares were listed and quoted on the Catalist Board of the Singapore Exchange with effect from on or about 19 April 2022. Accordingly, under the terms of the Scheme, the Scheme has been completed on 26 April 2022.

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David Chew31-60