23 March 2022
[Case Study] Utilizing Singapore (and Other Offshore Jurisdictions) to Restructure Indonesian Companies
Less than ten days to go before ABLI's much-anticipated webinar Season 2: Utilizing Singapore (and Other Offshore Jurisdictions) to Restructure Indonesian Companies.
In this year's edition, our speakers, Tahirah Ara, Managing Partner, Singapore and Head of Asia, Mishcon de Reya LLP, Emmanuel Chua, Local Principal, Baker & McKenzie Wong & Leow, and Narada Kumara, Partner and Practice Group Head of Restructuring and Insolvency, Budidjaja International Lawyers, have specifically devised a hypothetical case study which they will discuss together with the attendees in an interactive manner.
Take a minute to consider the scenario of an Indonesia-incorporated company that has:
1. Unsecured US$ notes listed on the Singapore Stock Exchange (SGX) and governed by New York (NY) law that require 100% consent to amend interest or principal repayment terms;
2. Unsecured US$ notes listed on SGX and governed by UK law that requires two-third majority consent to amend any terms;
3. Syndicated US$ loan from six offshore banks located in Singapore, governed by UK law, secured by assignment of receivables and pledge of offshore accounts located in Singapore and New York, requires the consent of all lenders to amend interest or principal repayment terms; and
4. Bilateral US$ and IDR loans, primarily held by Indonesian onshore banks, governed by Indonesian law and secured by various movable and immovable assets as well as personal guarantee from its ultimate shareholder and Indonesian tycoon (who has significant assets overseas).
Twelve questions have been designed for this fact pattern, and attendees will be invited to participate in voting on Zoom.
Refer to the attached PDF for more details of this fact pattern.
Curious to find out what those 12 questions are and listen to our speakers dissect this case study? Be sure to sign up for the session here. Members of the Singapore Academy of Law (SAL) can redeem their SAL C$ for this session here.
Registration closes on March 29. This webinar has been accredited for 1 public CPD point.