Exhibiting a strong debtor and creditor practice, Latham & Watkins LLP offers advice on all aspects of Hong Kong, UK, and US law relating to cross-border restructurings and complex bankruptcy cases. The team is especially well-equipped to assist committees of offshore bondholders and groups of companies with restructuring operational indebtedness and scheme of arrangements, predominantly representing clients in the real estate, aviation, and crypto fields. The department is led by Howard Lam, who specialises in the whole spectrum of matters relating to special situations, private credit, and banking finance transactions. Flora Innes is also noted as key, standing out for her work on corporate restructures and multi-jurisdictional disputes.
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
- Liquidators of Top Wise International Limited (In Liquidation)
- 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