BlackOak LLC, Singapore Office, Asia-Pacific

Profile

Provided by BlackOak LLC

Managing Partner: Ashok Kumar

Senior Partner: Darius Tay

Number of other fee-earners: 12

BlackOak is a dedicated distress and special situations practice and is one of Singapore’s leading corporate restructuring and insolvency (“CRI”) law firms. The firm’s capabilities include special situations M&A, Capital Markets, Banking and Finance, and Dispute Resolution. BlackOak regularly handles high-value debt restructuring exercises, as well as insolvency-related litigation, acting for all stakeholders in a restructuring with particular emphasis on acting for funds, debtors, sponsors and insolvency professionals.

The team includes two talented individuals, Shu Kit and Samuel Loh.

·Kit is a promising young female lawyer who has demonstrated strong abilities to handle sophisticated and intricate local and cross-border corporate restructuring and insolvency deals with exceptional client management skills and legal expertise having had overseas secondment to a major US law firm She has led teams alone and/or with a single lead Director. Kit also actively participates in events and programmes that seek to empower other women in the industry.

·Sam has been involved in the landmark Singapore Court of Appeal decision in Ascentra Holdings where for the first time, the Court terminated in whole the automatic moratorium which arises upon recognition of a foreign main proceedings under the Model Law. Sam participates in thought leadership with INSOL International and other international publications and teaches at the Singapore Management University a course on Law and Finance of Corporate Transactions. Sam has also been chosen as a member of the INSOL Future Leaders Programme by INSOL International in 2024.

• Corporate insolvency

• Corporate restructuring

• Corporate finance

• Corporate and commercial litigation

The team is particularly known for its focus on clients, its strong understanding of technical and commercial issues, and its ability to come up with innovative, technically-sound and commercially practical solutions. Being an independent firm, it can act fiercely for all its clients.

Since the firm’s founding, the firm has acted in many landmark high-value cross border debt restructurings as well as insolvency-related litigations, which include

Advising No Va Land Group in the restructuring of its convertible bonds in its landmark restructuring in the Singapore International Commercial Court which was approved within 15 days from filing.

Advising and representing the Singapore-incorporated debtor companies of FTX.

Acting as local counsel to the Century Sunshine Group entities and advising the appointed liquidators in relation to the Group’s cross-border restructuring of outstanding debt valued at HKD 3.24 billion.

Advising a prominent global co-working space provider on its complex restructuring, in relation to, amongst others, the restructuring of its Singapore subsidiaries.

Acted in the milestone decision of the Court of Appeal in Ascentra Holdings, Inc (in official liquidation) v SPGK PTE LTD where the Court held that UNCITRAL model law on cross-border insolvency should be interpreted broadly to include foreign proceedings concerning companies that are neither insolvent nor severely financial distressed.

Advising Yang Kee Logistics Pte Ltd a Singapore logistics business with a global presence in multiple countries including Singapore, Australia, New Zealand, Malaysia and Thailand, with debts valued at approximately S$450 million.

Acting BLD Investments Pte Ltd in relation to the restructuring of its Guaranteed Equity Linked Bonds, guaranteed by PT Bakrieland Development Tbk.

Advising Nam Cheong Limited (a Bermudian SGX-listed company) on its successful RM 1.5 billion restructuring through processes in Singapore and Malaysia.

Advising on the Liquidation of Three Arrows Capital, Ltd. (in liquidation) and successfully secured cooperation from Luna Foundation Guard and Terraform, leading to the successful acquisition of the necessary information required for the Liquidator’s investigations.

Advising the Informal Steering Committee in its negotiations with PT. Pan Brothers Tbk in relation to the restructuring of the committee’s debts of about USD 138 million.

Acting for the Duniatex Group one of the first successful recognition of Indonesian PKPU orders in respect of the Group and its sponsor in Singapore.

Advised the ad hoc group (the “AHG”) of senior creditors holding substantial positions in the senior debt of the China Fishery Group on the successful global restructuring of the Group’s estimated HKD 9 billion debt from a Singapore law perspective.

Acted for the liquidators of OCAP Management Pte. Ltd. (in compulsory liquidation) Bijlipay Asia Pte. Ltd (In Liquidation), in connection with the highly publicized Wirecard scandal, in relation to a landmark decision concerning the restrain of US$8.63 million.