Suntech Power Holdings Co., Ltd
- Initial financial review for offshore institutional bondholders. Coordinating restructuring for stakeholders in the PRC, US and Europe under a Cayman Island provisional liquidation framework.
- Obtaining US recognition by progressing a US Chapter 15.
- Safeguarding creditors’ interest.
Total debt size: US$500 million
The biggest thermal coal mining company in Indonesia
- Acting as financial adviser of an onshore bank creditor.
- Reviewing the financials and providing comments on the financial implications of the proposed debt restructuring.
Total debt size: US$3.8 billion
Rightway China Real Estate Ltd
- Initial financial review for offshore institutional bondholders (the ‘Bondholders’).
- Appointed by the Bondholders to act as receivers.
- Obtaining and maintaining control of onshore assets.
- Initiating PRC litigation to maximise Bondholders’ bargaining power.
- Existing Bondholders’ exit optimised through the secondary market.
Total debt size: US$700 million
Wongs Investment Holdings Group Limited
- Acting as the liquidators of the company in Hong Kong and BVI.
- Securing and realising the assets, including majority equity interest in a subsidiary listed on the HK Stock Exchange.
- Working closely with stakeholders to manage the realisation process.
Asset size: Over HK$200 million
Lehman Brothers International (Europe) (LBIE)
- Monetising the stocks and securities held by LBIE’s QFII in China and thereafter repatriating cash proceeds from China to the UK.
- Dealing with all necessary regulatory clearances.
- Managing the first significant QFII exit and cash repatriation.
Portfolio size: US$1 billion
- Acting as receivers appointed by foreign creditors.
- Working with the PRC bankruptcy reorganisation administrator to deal with cross-border restructuring and protect foreign creditors’ interests.
Total debt size: Over US$290 million in offshore debt and over US$700 million in onshore debt
Pacific Andes Group
- Acting as independent reporting accountants to assess the latest financial position and business performance of the major overseas subsidiaries of the group.
- Exploring options with various banks in connection with the restructuring of the group.
Total debt size: Approximately US$1.9 billion