Restructuring and insolvency

Advising Continental Chemical Corporation Pte Ltd regarding its default of a US$250 million syndicated term loan facility and its proposed corporate restructuring through a scheme of arrangement.

Advising Rickmers Maritime, a shipping trust listed on the SGX, on the restructuring of its syndicated loan facilities including an extension of the facilities granted under a US$130 million Top Up Facility, as well as the release and settlement of capital expenditure obligations aggregating US$918.7 million.

Advising Otto Marine Limited (as Guarantor) and its wholly-owned subsidiary, Otto Marine Services Pte Ltd (as Issuer), on the restructuring of their US$500 million Medium Term Note Programme.

Advising a leading Norwegian bank on the enforcement of security over the Singapore based assets of the Norwegian listed Dolphin Group which filed for bankruptcy in Norway and on the subsequent winding-up of its Singapore subsidiary.

Advising a New York based shipping fund on the redelivery and orderly sale of an accommodation barge on bareboat charter to the Swiber Group under judicial management.

Advising one of the key lending syndicates to Rickmers Trust Management (as trustee manager of Rickmers Maritime) on restructuring and recovery options in the lead up to the winding-up of Rickmers Maritime, the first listed business trust to be wound up in Singapore.

Advising Bank of Tokyo Mitsubishi as agent of a fleet term loan facility on the restructuring of the facility granted to listed First Ship Lease Trust (FSL Trust), a business trust listed on the SGX-ST, with approximately US$166 million of debt obligations outstanding, through a scheme of arrangement, the first business trust to be so restructured.

Advising lenders to EMAS Offshore Limited, a listed shipping company under a scheme of arrangement, on the recovery of shipping assets.

Acting for key operating affiliate of Seadrill in connection with the restructuring of its loan obligations with a syndicate of lenders arising from the Chapter 11 restructuring of the Seadrill Group.

Advising a syndicate of banks led by ING Bank in connection with defaults on bareboat charters and the application by Ocean Tankers Pte Ltd, an affiliate of Hin Leong Pte Ltd, for judicial management.

Advising a listed Norwegian shipping group on settlement arrangements with a Malaysian bank in relation to US$82 million of outstanding debt secured by a Singapore shipping asset.

More: Restructuring and insolvency

Public and private M&A

Advising Sembawang Kimtrans Limited, a logistics company listed on the SGX, on its S$78 million acquisition by Toll Express Asia Pte Ltd, a subsidiary of ASX listed Toll Holdings Limited.

Advising Lasseters International Holdings Limited, a hotel and gaming operator listed on the Catalist of the SGX, on the disposal of its portfolio of 12 Australian hotels to Independent Pub Group Pty Ltd for an aggregate adjusted consideration of A$92 million.

Advising Otto Marine Limited on its proposed acquisition of Go Marine Group Pty Ltd for an aggregate consideration of A$20 million.

Advising Fenner PLC, a company listed on the LSE, on its acquisition of Multiseals Pte Ltd, an industrial seals manufacturer based in Singapore, for an aggregate cash and share consideration of S$14.4 million.

Advising an affiliate of HSBC Holdings PLC on the sale of its Singapore general insurance businesses to French insurer AXA Group, as part of HSBC’s multi-jurisdictional disposal of its general insurance businesses in Hong Kong, Singapore, Argentina and Mexico to AXA Group and Australian insurer QBE Insurance Group in a split deal for an aggregate consideration of US$914 million.

Advising American International Assurance Company, Limited, a company listed on the HKSE, on the restructuring and transfer of its Singapore life and general insurance business from a branch office to AIA Singapore Pte Ltd, a wholly-owned subsidiary incorporated in Singapore, through a scheme of transfer under Section 49FB of the Insurance Act of Singapore.

Advising a Japanese logistics company on the acquisition of 90% of the shares in a Singapore freight forwarding and logistics company for cash consideration of S$10 million.

Advising Japan South East Asia Growth Fund L.P on the acquisition of AdvanIDe Pte. Ltd, a silicon distributor providing components for RFID transponders, chip cards, and RFID readers and terminals.

Advising a Japanese institutional investor on the acquisition of a strategic 25% minority stake in a major Singapore-based F&B chain.

Advising the vendors of a Singapore based medical practice on the sale of a majority equity stake cum joint venture with a prominent medical group.

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Employment

Jason's practice focuses on the non-litigious aspects of employment law and has advised clients on a wide range of matters including employment contracts, service agreements, compliance and personal data protection matters, negotiations with trade unions, termination of employment, sexual harassment and various employment related matters in connection with large scale M&A transactions.

Advising Tricorn Energy on the transfer of employees in relation to the acquisition of Noble Group's petrochemical business.

Advising on employee transfer and secondment arrangements in Singapore in connection with joint venture arrangements between Fujifilm and Xerox.

Advising a listed Japanese manufacturing company on the removal of the chief executive of its Singapore subsidiary.

Advising a Singapore subsidiary of a listed Japanese chemicals company on updating its personal data protection policy.

Advising a Japanese recruitment company on preparation of a personal data protection for its Singapore subsidiary.

Ship and offshore finance

Advising a major Chinese bank on a US$1 billion loan for the financing of 51 offshore support vessels to leading European owner.

Advising a syndicate of banks on a US$380 million loan to a leading Greek owner for the financing of five newbuild LNG carriers.

Advising a leading British owner on the disposal of four bunkering tankers.

Advising a listed Singapore owner on the sale and leaseback of a US$100 million offshore support vessel to the leasing division of a major Chinese bank.

Advising a leading British bank on a US$119.5 million financing and sale and leaseback of six LNG carriers to a shipping business trust.

Banks and banking

Advising a leading PRC bank on a US$1 billion secured loan facility to a borrower listed on the Paris Bourse to finance the purchase of 51 offshore support vessels.

Advising Wintercrest Advisors LLC, an associate of Platinum Partners, on a US$30 million bridge loan facility to Blumont Group Limited, a company listed on the SGX.

Advising Bank of Communications Financial Leasing Co., Ltd on the financing of its US$1.35 billion newbuilding tanker project.

Advising Nordea Bank AB on the transfer of its Singapore loan and security portfolio in connection with the merger of Nordea Bank AB with its subsidiaries in Norway, Denmark and Finland.

Acting for an ABN AMRO Bank led syndicate of banks for the US$95 million refinancing of three existing facilities to Epic Gas.

Advising a leading Swedish Bank on its US$178 million refinancing of existing facilities in connection with the corporate restructuring of the Solstad group of companies.

Advising a leading Swedish Bank on amendments to its US$178 million syndicated facility to the Solstad group of companies by way of a Singapore scheme of arrangement.

Advising Bank of Communications Financial Leasing in relation to the finance leases of 19 newly-built LR2 and MR tankers under bareboat charters to Scorpio Tankers Inc. valued at US$668 million.

Advising DNB Bank ASA, Singapore Branch and DNB Asia Ltd on the transfer of a US$2 billion Singapore shipping loan and security portfolio to back to head office in Norway as part of an internal restructuring exercise.

More: Banks and banking