Restructuring and Insolvency
Chandler Mori Hamada acts for creditors, creditor committees and debtors on due diligence and restructuring of corporate debt, and advises on reorganization proceedings under the amended Bankruptcy Act and under the Corporate Debt Restructuring Advisory Committee (“CDRAC”). Chandler Mori Hamada published an English translation of the amended law in 1999, and co‐published “Restructuring Eurobond Debt in Thailand”.
Some Representative Transactions:
- Macquarie Aircraft Leasing Services (UK) Limited: representing Macquarie Aircraft Leasing Services (UK) Limited, a British aviation lessor and subsidiary of Macquarie Group (global financial services group) in relation to the debt restructuring and business rehabilitation process of its Thai debtor, Thai AirAsia X Co., Ltd., a major Thai long-haul, low-cost airline business.
- Avolon Aerospace Leasing Limited: acting for many top lessor creditors of Thai AirAsia X Co., Ltd. (“TAAX”), a major Thai long-haul, low-cost airline business, in relation to its debt restructuring, including the Avolon group. Avolon is filing an application TAAX for repayment of debts in relation to outstanding lease payments for two Airbus A330 aircraft under business rehabilitation proceedings in the Thai bankruptcy court. The total debt required to be restructured under these proceedings is approximately USD 1.768 billion.
- Leading fitness business operator: representing one of the leading fitness business operators in Thailand in the bankruptcy proceedings of the debtor, who was the landlord of a fitness company branch, to claim for repayment of the deposit and to deal with the claim for payment of rent and utility expenses from the debtor or the current landlord.
- High-end Japanese restaurant owner: representing and acting for a high-end Japanese restaurant owner against a licensee in Thailand, on enforcement of a Singapore International Arbitration Centre (“SIAC”) arbitral award in Thailand by means of bankruptcy proceedings.
- Manufacturer: acting for a company producing and distributing polyvinyl chloride (PVC) in the filing of an application against its dissolving debtor, a company involved in the petrochemical industry, for repayment of debts.
- Major regional bank: representing a Thai subsidiary of major regional bank based in Malaysia in rehabilitation proceedings to object to a petition for rehabilitation of a company that operates in the hospitality and real estate sector as a borrower of the bank, which was submitted by the company.
