Acting for borrowers, lenders, and distressed investors, the Latham & Watkins LLP practice stands out for its offering on high-value debt restructurings, complex enforcement actions, and cross-border winding-up petitions. It also excels in assisting ad-hoc groups of offshore bondholders and onshore trade creditors. The team draws upon its in-depth expertise in US bankruptcy and reorganisation cases to routinely advise clients spanning the aviation, real estate, and tech sectors, with the Hong Kong-based head Howard Lam being well-regarded by insolvency practitioners, distressed funds, and bank lenders. Flora Innes is highly knowledgeable in corporate restructurings and multi-jurisdictional disputes, bringing added insight to the outfit.
Key clients
- Hong Kong Airlines Limited
- Ad hoc group of bondholders to Zhenro Properties Group
- Ad Hoc Committee of bondholders in relation to China Fortune Land Development
- Ad hoc group of bondholders to Zhongliang Holdings Group
- Babel Asia Asset Management Private Limited
- Committee of noteholders to Hidili Industry International Development
- Private placement lenders to Logan Group Company Limited
- Ad hoc group of bondholders to RiseSun
- Ad hoc group of offshore bondholders and certain bank creditors to Powerlong Real Estate
- Fok Hei Yu and Kenneth Fung (of FTI Consulting) as liquidators of Top Wise International Limited (In Liquidation)
- Donald Osborne and Christopher So (of PWC), as joint and several liquidators of Shanghai Huaxin (Hong Kong) Limited (In Liquidation)
- BFAM Asian Opportunities & Long Corridor
- Xinyuan Real Estate Co., Ltd
- Bank lenders to Sunac China Holdings
- Bank syndicate to Redco Properties Group Limited
- Ad hoc group of bondholders to Central China
- Bondholders of Dexin China Holdings Limited
- Liquidators of Tsinghua Unigroup International Co., Ltd and Unigroup International Holdings Ltd
Work highlights
- Advised the ad hoc committee of offshore bondholders with respect to Zhongliang Holdings Group, a high-profile Hong Kong-listed Chinese real estate developer, on the successful restructuring of its 5 series of USD guaranteed bonds with face value of circa US$929 million, as well as other private loans of the company.
- Advised the “Babel Finance” group of companies, which operated a crypto-lending and crypto asset management business in Asia, to holistically restructure its operational indebtedness, corporate and shareholding structure through a Singapore scheme of arrangement, following the crypto crash in June 2022.
- Advising an ad hoc group of offshore bondholders and certain bank creditors in connection with the US$2 billion+ holistic debt restructuring of USD bonds, bank debts and other private debts of Powerlong Real Estate Holdings Limited, a Fujian-based Chinese real estate development company which is listed on the Hong Kong stock exchange.
Lawyers
Practice head
The lawyer(s) leading their teams.
Howard Lam