Advisory
Restructuring and Insolvency
As the economic environment evolves rapidly, businesses are left to deal with complex uncertainties and market turbulence. Additionally, challenges may manifest through internal or shareholder disputes. When such challenges occur, we are able to assist in both an executory and advisory capacity.
Whatever the cause of distress, our team is able to formulate and execute plans with a view to restoring stability to ultimately deliver value. We have the necessary experience and skill-sets to rapidly identify root cause of issues, formulate and implement complex turnaround or recovery strategies, whilst conducting detailed stakeholder management. We advise companies and creditors across all industry sectors and business sizes.
Financial difficulties are very real problems that are faced by companies, even by those at the top of an economic cycle. In such situations, companies or creditors should explore the best possible options by taking into account the unique situation of their company, hence achieving optimal outcome whether through rehabilitation, restructuring or liquidation.
Corporate Insolvency & Restructuring
We support companies facing financial challenges by offering both restructuring options and, where necessary, formal insolvency appointments.
Creditor-Driven Insolvency
- Compulsory Liquidations – Acting as court-appointed liquidators where creditors petition for winding up, with responsibility to recover and distribute assets for creditors’ benefit.
- Private Receivership Services – Acting as Receivers or Receivers & Managers to realise assets for secured creditors, or to continue running the business until recovery or disposal.
Court-Related Insolvency & Restructuring
- Provisional Liquidations – Rapid appointments to safeguard assets at risk of unauthorised dissipation.
- Judicial Management – Helping viable but distressed companies rehabilitate under court protection, giving them time to restructure operations and debts.
- Schemes of Arrangement – Designing and implementing court-sanctioned restructuring agreements with creditors, often providing more flexibility and less stigma than liquidation.
- Court-appointed Receivership Services – Appointed by the court to preserve the values of the property and enforce the rights over the business, property or assets during legal proceedings in order to act and balance the best interests of creditors, shareholders, or other affected parties.
Company Voluntary Insolvency
- Creditors’ Voluntary Liquidations (CVL) – Assisting directors and shareholders to place an insolvent company into liquidation, ensuring assets are recovered for creditors.
- Members’ Voluntary Liquidations (MVL) – Winding up solvent companies that are no longer needed, returning surplus capital to shareholders.
- Pre-Liquidation Advisory – Providing advice to companies considering winding down, including guidance on restructuring options prior to formal liquidation.
Individual Insolvency & Debt Restructuring
We assist individuals under financial pressure by providing both insolvency solutions and repayment alternatives:
- Bankruptcy Administration – Acting as trustees to manage bankrupt estates in accordance with the law.
- Voluntary Arrangements – Negotiating structured repayment plans with creditors to avoid bankruptcy.
- Debt Repayment Scheme Advisory – Supporting individuals to access statutory repayment schemes where applicable.
Restructuring & Implementation Services
Beyond formal appointments, we also work with clients to implement restructuring strategies and resolve governance or stakeholder disputes:
- Independent Financial Advisory & Monitoring – Reviewing company financials, assisting in negotiations with lenders and creditors, and developing restructuring proposals. We can also act as Monitoring Accountants to oversee compliance with agreed restructuring plans.
- Directorship Roles – Taking on independent directorships or creditor nominated directors to resolve board deadlocks or provide stabilising leadership during restructuring.
- Mediation Services – Acting as neutral mediators to facilitate constructive dialogue and resolve disputes among stakeholders.
Selected Credentials
- Appointed by a Syndicate of Chinese State-Owned Banks — Engaged by three state-owned banks led by China Construction Bank to serve as private receivers over 81.8% of the shares in a Singapore company, successfully recovering US$1 billion for the syndicated lenders within 18 months.
- Court-Sanctioned Scheme of Arrangement (F&B Sector) — Jonathan Ong acted as Scheme Manager, designing and implementing a court-approved Scheme of Arrangement that successfully restructured the company by deed poll. This case represents the first reported decision involving the successful grant of related company moratoria.
- Court-Appointed Liquidator (Financial Services Sector) — Appointed by the Court as liquidator of a MAS-licensed company, which was part of the JC Group China group of companies.
- Liquidator for EZRA Holdings Subsidiaries — Acted as liquidator for subsidiaries under EZRA Holdings Limited, with total outstanding debts of approximately US$600 million. Notably, Allen Water of EisnerAmper was appointed as debtor representative for EZRA Holdings under S. Chapter 11 proceedings.
- Independent Directorship and Asset Protection — Provided directorship services for a holding company with total debt exposure exceeding US$3.5 billion, and successfully managed issues relating to a Mareva injunction involving family assets.
- Voluntary Liquidation of SGX-Listed Company — Appointed by UOB, Maybank, and other major creditors to undertake the voluntary liquidation of an SGX-listed company with total outstanding debts exceeding S$13 million.
- Cross-Border Liquidation (Petrochemical Sector) — Appointed as liquidator of a group trading in petrochemical products, with operations and assets across China, South Asia, and Europe, and total debts of more than S$70 million.