Restructuring and insolvency
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    Listed as a name to know in Singapore by Global Restructuring Review

Restructuring and insolvency

Our restructuring and insolvency team is a multi-jurisdictional team of lawyers who advise a wide array of stakeholders on all issues arising in connection with financial distress.
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Ranked amongst the top 30 firms globally for cross-border restructuring and insolvency mandates by Global Restructuring Review, our team combines technical excellence with the ability to apply astute commercial insight to any given situation.

We act for companies, banks, funds, other financial institutions, office holders, indenture trustees, pension trustees, directors and individuals dealing with the consequences of financial distress.

We are consistently recognised as experts in our field by the legal directories. Our vast experience in all types of corporate restructuring and insolvency, coupled with a deep understanding of the needs of clients in this area, means that we are able to craft practical, commercial and cost effective solutions.

Our lawyers' extensive cross-border experience means that we are able to find solutions which best protect our clients' interests, whether through optimal use of the legal frameworks which exist to facilitate cross border restructurings, or by identifying those jurisdictions and laws that are best suited to our clients' needs.

Our work covers all sectors – and encompasses domestic and international debt restructurings, schemes of arrangement, CVAs, administrations (including pre-packs), refinancings, workouts and turnaround strategies, debt for equity swaps, distressed M&A, distressed investing, loan to own strategies, receiverships, liquidations, personal bankruptcy, insolvency litigation and investigations, and fraud and asset recovery.

"They are a strong firm and established player in the personal insolvency market."

Chambers UK 2021

E-Commodities Holdings (f/k/a Winsway)

Advising one of China’s largest coal importing companies on its award winning US$350 million bond restructuring using parallel Hong Kong and BVI schemes of arrangement and recognition under Chapter 15 of the US Bankruptcy Code.

AI Scheme Limited

Advising a company in the financial services sector on consumer liabilities; devising, negotiating and implementing ground breaking scheme of arrangement involving 11 banks, around 2 million creditors and various regulatory bodies.

Bolton Wanderers FC

Advising the joint administrators on the administrations of Bolton Wanderers Football & Athletic Company Limited, including on the sale its assets to Football Ventures (Whites) Limited, securing the future of the Bolton Wanderers Football Club.

Confidential restructuring of major Ukrainian group of companies

Acting for the companies in this major ongoing financial restructuring involving around $660 million of bank and note debt.

PSBP Midlands Limited

Advising administrative receivers of schools building project on numerous matters, including liaising with stakeholders, replacing the management services provider and contractual arrangements for completing the building project.

Pan Ocean Co Limited

Advising syndicates of lenders in connection with the Korean rehabilitation proceedings in connection with this huge shipping group, including litigation in the English court arising out of the Korean process.

Tomlinson Report

Acting on a number of litigious matters associated with the publication of the Tomlinson Report, including in relation to various claims against insolvency practitioners for alleged breach of fiduciary duty, negligence and breach of contract.

TES Aviation Group

Advising this aviation group on its proposed restructuring and subsequent pre-pack administration.

Noble Group Limited

Advising Bermudian provisional liquidator on the liquidation process used to implement this $3.5 billion restructuring.


Advising various bank syndicates on restructuring and then the Korean rehabilitation proceedings; dealing with various arrest proceedings in multiple jurisdictions.

Integrated Subsea Services Limited (in administration)

Advising the secured creditor in connection with this insolvency in the off-shore sector, involving numerous cross-border issues.

Toys R Us

Advising the administrators of the English entities on a range of matters in the administration including issues arising from aspects of the US Chapter 11 proceedings, and certain pension related matters.

Bell Pottinger group

Acting for the administrators of the English entities within the Bell Pottinger group following the PR firm's collapse into administration after a media scandal.

Angel Group Limited (in administration)

Advising former administrators of this property group on various issues including significant litigation against them involving an application to remove them.

Peak Hotels and Resorts Limited (in liquidation)

Advising liquidators on English aspects of this BVI liquidation of Peak Hotels, a partner in a JV which formerly owned the prestigious Aman Resorts, including recognition in England, security issues and claims.

The Co-operative Bank Plc

Advising the trustee of various issues of notes affected by the liability management exercise undertaken by the Bank, including the exchange offer and consent solicitation and the scheme of arrangement.

IM Skaugen SE

Advising and acting for one of the first foreign companies to successfully obtain scheme moratorium protection from the Singapore courts. This resulted in the first Singapore decision providing clarity on the scheme moratorium regime under s. 211B of the Companies Act (Cap.50).

Jack Wills

Advising and acting for the liquidators of Jack Wills (SG) Pte Ltd as part of the global administration of Jack Wills Limited, in respect of intellectual property as well as title/ownership issues.

Pacific Radiance

Advising and acting for one of the secured lenders in respect of scheme of arrangement moratorium applications by Pacific Radiance Limited and Pacific Crest Pte Ltd and successfully obtained a carve-out of the lender's secured assets from the moratoria orders.


Ian Benjamin Partner

T:  +44 20 7809 2286
M:  +44 7921 472 238 Email Ian | Vcard Office:  London


Julian Cahn Partner

T:  +44 20 7809 2342
M:  +44 79 2004 4969 Email Julian | Vcard Office:  London


Tim Crocker Partner

T:  +44 20 7809 2797
M:  Email Tim | Vcard Office:  London


Melissa Forbes-Miranda Partner

T:  +971 4 407 3904
M:  +971 54 306 6543 Email Melissa | Vcard Office:  Dubai


Jamie Stranger Office managing partner Greater China

T:  +852 2533 2780
M:  +852 9354 4481 Email Jamie | Vcard Office:  Hong Kong


Lauren Tang Managing partner at Virtus Law

T:  +65 6835 8664
M:  Email Lauren | Vcard Office:  Singapore


Alexander Tang Partner

T:  +852 2533 2881
M:  Email Alexander | Vcard Office:  Hong Kong


Henry Zhu Partner

T:  +86 20 8388 0590
M:  +86 135 0151 1600 Email Henry | Vcard Office:  Guangzhou


Alexandre Koenig Of counsel

T:  +33 1 44 15 82 09
M:  +33 6 82 12 32 79 Email Alexandre | Vcard Office:  Paris

Latest news & insights

13 Mar 2023

From News

Stephenson Harwood's response to recent news regarding Silicon Valley Bank

Having spent the weekend supporting clients reacting to the bank's potential collapse in the UK, Stephenson Harwood is pleased to hear the latest news this morning con..


27 Feb 2023

From Insights

Going concerns – February 2023

In the tenth edition of Going concerns, Stephenson Harwood’s restructuring and insolvency team covers the innovative attempt by a distressed company to shut out low-va..


13 Feb 2023

From News

Stephenson Harwood advises on two award-winning deals

Law firm Stephenson Harwood LLP has advised on two separate deals which have been recognised at the China Business Law Journal (CBLJ) Deals of the Year Awards 2022. Bo..


19 Jan 2023

From News

Stephenson Harwood advises Circet on Scopelec Group takeover out of receivership proceedings

Law firm Stephenson Harwood has advised the Circet Group, a telecom network service provider, on its takeover of the Scopelec Group.


21 Oct 2022

From Insights

Clear as mud

As the title suggests, the state of recognition and assistance jurisprudence and practice in Hong Kong is less than clear.


07 Oct 2022

From Insights

Directors' duties prior to insolvency

The Supreme Court has handed down its long-awaited judgment in BTI 2014 LLC v Sequana SA [2022] UKSC 25.


19 Aug 2022

From News

Stephenson Harwood (Singapore) Alliance advises TotallyAwesome on internal restructuring and financing

Stephenson Harwood (Singapore) Alliance has advised the TotallyAwesome group on its internal restructuring to move its headquarters from Hong Kong to Singapore, and a ..


17 Aug 2022

From Insights

Going concerns – August 2022

In the latest edition of Going concerns, Stephenson Harwood’s restructuring and insolvency team covers the use of lock-up agreements in schemes of arrangements, and th..


30 Jun 2022

From Insights

Global Brands – common law foreign recognition regime is alive and well, with a new COMI test introduced

In the matter of an application for recognition and assistance by the provisional liquidator of Global Brands Group Holding Limited (in liquidation) [2022] HKCFI 1789 ..


28 Jun 2022

From Insights

Cross border insolvency – The Court of Final Appeal clarifies the second core requirement in Shandong Chenming case

Shandong Chenming Paper Holdings Limited v Arjowiggins HKK 2 Limited [2022] HKCFA 11 (date of judgment 14 June 2022)


17 Jun 2022

From Insights

Rare Earth - careful planning is needed to ensure schemes of arrangement have their intended effect

In the matter of Rare Earth Magnesium Technology Group (provisional liquidators appointed) (for restructuring purposes only) [2022] HKCFI 1686 (date of judgment: 6 Jun..


07 Jun 2022

From Insights

Cross border insolvency – reconsidering the Second Core Requirement and foreign recognition?

Up Energy Development Group Limited [2022] HKCFI 1329 (date of decision: 6 May 2022)


25 May 2022

From Insights

Trustee basics: Edition 2 - The no action clause

In this, the second of a series of "Trustee basics" articles, Charlotte Drake and Jayesh Patel of Stephenson Harwood look at the "no action" clause in an English law-g..


20 Apr 2022

From Insights

Cross border insolvency - more applications by Hong Kong liquidators to seek recognition and assistance in Mainland China

Ozner Water International Holding Limited (In Liquidation) [2022] HKCFI 363 (date of decision: 27 January 2022) Hong Kong Fresh Water International Group Limited (In..


© Stephenson Harwood LLP 2016. Any reference to Stephenson Harwood in this document means Stephenson Harwood LLP and/or its affiliated undertakings. Any reference to a partner is used to refer to a member of Stephenson Harwood LLP.