Restructuring/Insolvency (International Firms) | Greater China Region

A&O Shearman's Hong Kong team offers considerable cross-border capabilities, working with support from the firm's London and New York offices. It frequently acts for leading financial institutions on major restructuring and insolvency matters, including provisional liquidations, disputes and schemes of arrangement. The team is recognised for its strength advising on the creditors' side on oil and gas-related restructurings. Its clients include Standard Chartered Bank (Hong Kong), Australia and New Zealand Banking Group and Cathay United Bank. On 1st May 2024, Allen & Overy and Shearman & Sterling merged to form A&O Shearman.

The prominent team at Clifford Chance handles the full range of restructuring and insolvency matters, and regularly collaborates with its offices throughout the Asia-Pacific region to assist clients with large-scale cross-border mandates. It is noted for its prominence acting for banks and also advises non-bank creditors, debtors and high net worth individuals. The law firm assists a wide spectrum of clients from the technology, financial services, healthcare and aviation sectors. Its clients include FTI Consulting, joint provisional liquidators of Genting Hong Kong, and the liquidators of Gatecoin Limited.

Kirkland & Ellis' exceptionally well-respected restructuring and insolvency team is highly regarded for its representation of bondholder groups in major restructurings. It is highly active in the energy sector. The firm is sought after for its strong collaborative relationship with its US offices on cross-border matters and is noted for its presence in the broader region, often operating on mandates in jurisdictions such as Singapore and India. The law firm also advises on insolvencies and Chapter 11 issues, as well as on large-scale default cases. Its clients include Noble Group, Sapura Group and iQIYI.

Clients benefit from Latham & Watkins' strong global footprint as well as its impressive local expertise in complex restructuring. The law firm caters to a broad spectrum of Chinese, regional and international clients, including liquidators and debtors in distressed situations. It is active on bond defaults, advising both bondholders and corporates, and is also skilled in contentious matters that include enforcement action. Its clients include Hong Kong Airlines, Huachen Energy and Shop-Vac.

Linklaters acts for a range of banks, funds and corporates on distressed investments and bond and credit restructuring matters and frequently advises with regard to enforcements and insolvency litigation. The law firm's Hong Kong and Singapore offices regularly collaborate on complex cross-border matters and are proficient in dealing with matters across Asia, especially in India and Singapore. Its clients include CIFI Holdings (Group), Golden Wheel Tiandi Holdings and Yuzhou Group Holdings.

The renowned restructuring and insolvency team of Mayer Brown regularly acts for creditors, issuers and trustees on high-profile mandates involving bond restructurings, schemes of arrangement, enforcement and recovery matters and liquidations. It is also notable for handling multi-bank workouts and non-performing loan acquisitions. Mayer Brown is an effective one-stop shop for cross-border matters thanks to the firm's significant foothold in Asia, with teams in Vietnam, Thailand and the PRC. Its clients include Nortel Networks (Asia), China Development Bank and ICBC.

Tanner De Witt fields a well-established independent Hong Kong restructuring and insolvency team that holds a strong reputation, particularly in relation to high-stakes contentious insolvency cases. The team regularly handles complex domestic and cross-jurisdictional litigations. Its clients include distressed companies, individuals and liquidators, such as Stellar Aircraft Holding, E-House (China) Enterprise Holding and New Nordic Management International.

DLA Piper offers expertise in traditional restructuring and insolvency issues. It has a track record of advising funds on bond restructurings, and acting for banks and bondholder groups. The law firm regularly advises corporates on loan refinancings and distressed assets, often in the real estate, shipping and aviation sectors. The team is experienced in cross-border matters that include recovery of assets and debts. Its clients include OCM APDO Gene Investments, Zhongliang Holdings Group and Alvarez & Marsal.

Hogan Lovells' increasingly active business restructuring team acts for creditors and liquidators, and is also able to represent corporate debtors. It is noted for handling cross-border insolvencies and restructurings, and demonstrates experience advising on multi-jurisdictional investigations and enforcement strategies. Hogan Lovells leverages its global expertise with offices in Singapore, Australia, the US and the UK. Its clients include Madison Pacific, D&P China and Citicorp.

Stephenson Harwood is noted for its work on contentious insolvency cases, frequently advising banks, liquidators and provisional liquidators. The law firm is often instructed by creditors and shareholders on insolvency cases and is able to assist on non-contentious matters. It is noted for its Mandarin language skills and ability to engage with Chinese clients. Its clients include Madison Pacific Trust and the liquidators of Shanghai Huaxin Group, Days Impex and Days International.

King & Wood Mallesons has an accomplished team offering advice on debt restructurings and liquidation proceedings as well as winding-up petitions. The law firm has particular experience representing creditors and debtors. It is also equipped to assist on distressed M&A. Its clientele includes Everwin Enterprise, Industrial Bank and Century Sun International.

Sidley Austin has a notable practice in restructuring and insolvency sphere. The firm has substantial experience advising on offshore debt restructurings, particularly matters related to the real estate sector. The team is entrusted by both creditors and debtors. Its notable clients include CFLD (Cayman) Investment, China Evergrande Group and RiseSun Real Estate Development.