15
Oct
Cross-border enforcement: What creditors should know
Cross-border enforcement can be a multifaceted challenge given the disharmonious legal systems and evolving enforcement mechanisms across the region. Sino-Ocean, New World Development and South China City are among the most high-profile debt restructuring and controversial proceedings seen so far this year. Our panel of experts will discuss these cases, their outcomes and the precedents they have set.
- What is the key take away for investors from Sino Ocean, New World Development and South China City?
- What are the common investment structures in cross-border enforcement?
- How to best protect your investment, particularly through offshore mechanisms?
- What are the best enforcement tactics creditors can use?
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SpeakersPing Zhou Co-Managing Editor, APAC Debtwire
Desmond Ang Partner Sidley Austin
Rod Sutton Founding Partner Fortune Ark Restructuring
Kurkye Wong Executive Director Argyle Street Management Limited
Carmen Yeung Managing Director Alvarez & Marsal
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Zhou Ping is Co-Managing Editor at Debtwire APAC, a global intelligence service that researches and reports on high-yield and distressed debt, leveraged financing and debt restructurings. Co-working with a group of experienced journalists and analysts, she writes news stories and market insights on Chinese high-yield bond issuers, distressed debt, in-court and out-of-court restructuring situations. Prior to Debtwire, she worked for Financial Times to cover South China in Hong Kong Bureau, Associated Press in Beijing Bureau. She studied and lived in Beijing, Pyongyang, Seoul before moving to Hong Kong.
Desmond is co-head of the Litigation group in Hong Kong and a member of the firm’s Global Arbitration, Trade and Advocacy practice. He practices in both Hong Kong and Singapore, handling international commercial litigation and arbitration with an emphasis on high-stakes disputes in Asia.
Desmond also has an established restructuring and insolvency practice involving the representation of debtors and creditors in dispute matters associated with complex cross-border debt restructurings, insolvency, and distressed scenarios. He is a senior member of a Sidley team responsible for close to US$50 billion in successfully completed restructuring mandates since the start of the China real estate crises in 2021.
Rod brings with him an impressive tenure of over 37 years in the field of financial advisory. His extensive and varied experience encompasses numerous pivotal roles including CEO, member of the Executive Committees, Advisor, Director, and Chief Restructuring Officer (CRO).
Throughout the course of his career, Rod has played integral roles as a major restructuring advisory and an IP in formal insolvencies across the Asia Pacific region. His expertise and unwavering commitment to delivering prompt and efficacious results have established him as a highly sought-after advisor in the industry.
Prior to assuming his current position, Rod was one of Asia’ most respected insolvency practitioners, with a track record of delivering returns to creditors on average of 60 cents to the dollar on his assignments. Following market demand for his services, Rod no longer takes formal insolvency appointments but is involved earlier on in taking Board Roles or other Special Advisory roles to avoid a formal appointment and achieve a consensual outcome. Rod is always focused on a greater return than a formal appointment.
Rod’s career is marked by his strategic vision and ability to navigate complex financial landscapes, making significant contributions to the field of financial advisory. He is characterised by a steadfast dedication to excellence and a relentless pursuit of innovative solutions.
Mr Wong is an Executive Director in Argyle Street Management Limited. Mr Wong is specialize in distress and private credit investment in Asia. He previously worked at KPMG and FTI Consulting in Hong Kong. Mr Wong is a Fellow member of the HKICPA. He holds a Bachelor of Business from the Queensland University of Technology, a Juris Doctor from the Chinese University of Hong Kong, and a Master course in Financial Engineering from Stanford University.
Ms. Yeung had more than 15 years of experience in financial restructuring, business review and monitoring, insolvency and receivership. She has worked with companies and creditors in multiple jurisdictions and has developed a deep understanding of restructuring regimes and offshore jurisdictions.
Most recently at A&M, Ms. Yeung advised real estate companies or their creditors in offshore debt restructuring situations, including Yuzhou, CFLD, R&F, KWG, Logan, etc. Other projects also included the restructuring of Luckin Coffee Inc. and the debt restructuring of Genting Hong Kong Limited.
Prior to joining A&M, Ms. Yeung spent seven years with a Big Four accounting firm in Hong Kong, where she worked on several cross-border restructuring and insolvency assignments such as the liquidation of Lehman Brothers Hong Kong, the bankruptcy reorganization of Shanghai Chaori Solar and the VIE-structure restructuring of Ambow Education.