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</nav></div> <div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="iparsysmain iparsys parsys"><div class="navtertiary section"><nav id="nav_tertiary_2020"> <ul> <li> <a href="/expertise/services/finance/finance-services.html">Finance Services</a> </li> </ul> </nav></div> </div> </div> </div> <div class="parsysmain responsivegrid"> <div class="aem-Grid aem-Grid--12 aem-Grid--default--12 "> <div class="clearfloat aem-GridColumn aem-GridColumn--default--12"><div style="display: block; width: 100%; height: 20px; clear: both; text-align: center;"></div></div> <div class="colconverter2 aem-GridColumn aem-GridColumn--default--12"><article class="article_2colconverter"> <figure class="figure_colconverter_imagecontainer"> <div class="div_noimage"> </div> </figure> <div class="div_colconverter_textcontainer div_colconverter_left "> <div class="parsyscol1 parsys"> <div class="wysiwygbox"><article class="article_wysiwyg"> <h3><b>Guide to Asia Pacific Restructuring and Insolvency Procedures</b></h3> <p>We are pleased to present the third edition of our guide to restructuring and insolvency laws and procedures across key jurisdictions in the Asia Pacific region. This updated guide provides an overview of each jurisdiction’s applicable laws and regulations on key areas of concern, with chapters covering Australia, Mainland China, Hong Kong SAR, India, Indonesia, Japan, South Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand, and Vietnam.</p> <p>Restructuring and insolvency activity remains elevated across the region, following the COVID-19 pandemic and a period of higher interest rates. Local structural and other factors are driving activity in specific jurisdictions.</p> <p>Since the launch of the second edition in 2018, there have been significant legislative changes in jurisdictions including Australia, Malaysia, India, and Singapore. Notably, Singapore and Malaysia have introduced new provisions for cramdowns in schemes of arrangement, pre-pack schemes, and super priority rescue financing. Mainland China has also introduced pilot arrangements for the mutual recognition of insolvency proceedings between Hong Kong SAR and Mainland China.</p> <p>We are one of the few firms with on-the-ground coverage across Greater China, Southeast Asia, and Australia, and our extensive presence and experience position us as the go-to advisors for complex cross-border restructuring.</p> <p>We express our sincere gratitude to the following firms for their contributions: AZB & Partners (India); ABNR (Indonesia); Bae, Kim & Lee LLC (South Korea); SyCipLaw (Philippines); Shearn Delamore & Co (Malaysia); Russin & Vecchi (Taiwan); Chandler MHM Limited (Thailand); and VILAF (Vietnam).</p> <p>This guide serves as your initial point of reference for each key jurisdiction. If you need further information or assistance on any topic covered in this guide, we are here to help.</p> <p><a href="/content/dam/cliffordchance/PDFDocuments/apac-r-and-i-guide.pdf">Download Now</a></p> <p> </p> </article></div> </div> <aside class="aside_2col_container" style="padding-top:0px"> <div class="parsyscol2 parsys"> <div class="expertssimple"> <section class="section_aside_contacts_container" data-morebutton="View more people with expertise in this area"> <section class="section_aside_contacts_hcarrier" data-thisiteration="0"> <article class="article_aside_contact"> <div class="div_profile_image_container"> <img src="/content/dam/cliffordchance/profiles/900000/900519-half.png/_jcr_content/renditions/original" width="200" height="166" alt="Scott Bache"/> </div> <section class="section_aside_contact section_class"> <h3>Scott Bache</h3> <h4>Partner</h4> <h5> <a class="icon_chair" href="/people_and_places/people/offices/hong_kong.html" title="Clifford Chance, Hong Kong">Hong Kong</a> </h5> <p class="icon_phone" onClick="ga('send', 'event', { eventCategory: 'Tel Num Clicks', eventAction: 'click'});"> +852 2826 3493</p> <p> <a class="icon_email" href="mailto:scott.bache@cliffordchance.com" onclick="ga('send', 'event', { eventCategory: 'People & Partner Contact Form Submissions', eventAction: 'click'});linkClick('Asia Pacific Restructuring and Insolvency Procedures|expertssimple|\/content\/cliffordchance\/expertise\/services\/finance\/apac\u002Drestructuring\u002Dand\u002Dinsolvency\u002Dguide|Email|Email|Email Clicked');"> Email Scott </a> </p> <p class="p_contact_link"><a href="/people_and_places/people/partners/cn/scott_bache.html" class="icon_profile" id="icon_profile_id">See my full profile</a></p> </section> </article> <article class="article_aside_contact"> <div class="div_profile_image_container"> <img src="/content/dam/cliffordchance/profiles/900000/907617-half.png/_jcr_content/renditions/original" width="200" height="166" alt="Mark Gillgren"/> </div> <section class="section_aside_contact section_class"> <h3>Mark Gillgren</h3> <h4>Partner</h4> <h5> <a class="icon_chair" href="/people_and_places/people/offices/perth.html" title="Clifford Chance, Perth">Perth</a> </h5> <p class="icon_phone" onClick="ga('send', 'event', { eventCategory: 'Tel Num Clicks', eventAction: 'click'});"> +61892625543</p> <p> <a class="icon_email" href="mailto:mark.gillgren@cliffordchance.com" onclick="ga('send', 'event', { eventCategory: 'People & Partner Contact Form Submissions', eventAction: 'click'});linkClick('Asia Pacific Restructuring and Insolvency Procedures|expertssimple|\/content\/cliffordchance\/expertise\/services\/finance\/apac\u002Drestructuring\u002Dand\u002Dinsolvency\u002Dguide|Email|Email|Email Clicked');"> Email Mark </a> </p> <p class="p_contact_link"><a href="/people_and_places/people/partners/au/mark_gillgren.html" class="icon_profile" id="icon_profile_id">See my full profile</a></p> </section> </article> <article 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James </a> </p> <p class="p_contact_link"><a href="/people_and_places/people/lawyers/au/james-hewer.html" class="icon_profile" id="icon_profile_id">See my full profile</a></p> </section> </article> <article class="article_aside_contact"> <div class="div_profile_image_container"> <img src="/content/dam/cliffordchance/profiles/910000/918565-half.png/_jcr_content/renditions/original" width="200" height="166" alt="Lei Shi"/> </div> <section class="section_aside_contact section_class"> <h3>Lei Shi</h3> <h4>Managing Partner, Mainland China</h4> <h5> <a class="icon_chair" href="/people_and_places/people/offices/shanghai.html" title="Clifford Chance, Shanghai">Shanghai</a> </h5> <p class="icon_phone" onClick="ga('send', 'event', { eventCategory: 'Tel Num Clicks', eventAction: 'click'});"> +862123207377</p> <p> <a class="icon_email" href="mailto:lei.shi@cliffordchance.com" onclick="ga('send', 'event', { eventCategory: 'People & Partner Contact Form Submissions', eventAction: 'click'});linkClick('Asia Pacific Restructuring and Insolvency Procedures|expertssimple|\/content\/cliffordchance\/expertise\/services\/finance\/apac\u002Drestructuring\u002Dand\u002Dinsolvency\u002Dguide|Email|Email|Email Clicked');"> Email Lei </a> </p> <p class="p_contact_link"><a href="/people_and_places/people/partners/cn/lei_shi.html" class="icon_profile" id="icon_profile_id">See my full profile</a></p> </section> </article> <article class="article_aside_contact"> <div class="div_profile_image_container"> <img src="/content/dam/cliffordchance/profiles/930000/931054-half.png/_jcr_content/renditions/original" width="200" height="166" alt="Phoebe Lo"/> </div> <section class="section_aside_contact section_class"> <h3>Phoebe Lo</h3> <h4>Partner</h4> <h5> <a class="icon_chair" href="/people_and_places/people/offices/hong_kong.html" title="Clifford Chance, Hong Kong">Hong Kong</a> </h5> <p class="icon_phone" onClick="ga('send', 'event', { eventCategory: 'Tel Num Clicks', eventAction: 'click'});"> +852 2826 3465</p> <p> <a class="icon_email" href="mailto:phoebe.lo@cliffordchance.com" onclick="ga('send', 'event', { eventCategory: 'People & Partner Contact Form Submissions', eventAction: 'click'});linkClick('Asia Pacific Restructuring and Insolvency Procedures|expertssimple|\/content\/cliffordchance\/expertise\/services\/finance\/apac\u002Drestructuring\u002Dand\u002Dinsolvency\u002Dguide|Email|Email|Email Clicked');"> Email Phoebe </a> </p> <p class="p_contact_link"><a href="/people_and_places/people/partners/cn/phoebe-lo.html" class="icon_profile" id="icon_profile_id">See my full profile</a></p> </section> </article> <article class="article_aside_contact"> <div class="div_profile_image_container"> <img src="/content/dam/cliffordchance/profiles/700000/785050-half.png/_jcr_content/renditions/original" width="200" height="166" alt="Yusuke Abe"/> </div> <section class="section_aside_contact section_class"> <h3>Yusuke Abe</h3> <h4>Partner</h4> <h5> <a class="icon_chair" href="/people_and_places/people/offices/tokyo.html" title="Clifford Chance, Tokyo">Tokyo</a> </h5> <p class="icon_phone" onClick="ga('send', 'event', { eventCategory: 'Tel Num Clicks', eventAction: 'click'});"> +81366326332</p> <p> <a class="icon_email" href="mailto:yusuke.abe@cliffordchance.com" onclick="ga('send', 'event', { eventCategory: 'People & Partner Contact Form Submissions', eventAction: 'click'});linkClick('Asia Pacific Restructuring and Insolvency Procedures|expertssimple|\/content\/cliffordchance\/expertise\/services\/finance\/apac\u002Drestructuring\u002Dand\u002Dinsolvency\u002Dguide|Email|Email|Email Clicked');"> Email Yusuke </a> </p> <p class="p_contact_link"><a href="/people_and_places/people/partners/jp/yusuke_abe.html" class="icon_profile" id="icon_profile_id">See my full profile</a></p> </section> </article> <article class="article_aside_contact"> <div class="div_profile_image_container"> <img src="/content/dam/cliffordchance/profiles/910000/916237-half.png/_jcr_content/renditions/original" width="200" height="166" alt="Suguru Kimura"/> </div> <section class="section_aside_contact section_class"> <h3>Suguru Kimura</h3> <h4>Counsel</h4> <h5> <a class="icon_chair" href="/people_and_places/people/offices/tokyo.html" title="Clifford Chance, Tokyo">Tokyo</a> </h5> <p class="icon_phone" onClick="ga('send', 'event', { eventCategory: 'Tel Num Clicks', eventAction: 'click'});"> +81366326412</p> <p> <a class="icon_email" href="mailto:suguru.kimura@cliffordchance.com" onclick="ga('send', 'event', { eventCategory: 'People & Partner Contact Form Submissions', eventAction: 'click'});linkClick('Asia Pacific Restructuring and Insolvency Procedures|expertssimple|\/content\/cliffordchance\/expertise\/services\/finance\/apac\u002Drestructuring\u002Dand\u002Dinsolvency\u002Dguide|Email|Email|Email Clicked');"> Email Suguru </a> </p> <p class="p_contact_link"><a href="/people_and_places/people/lawyers/jp/suguru-kimura.html" class="icon_profile" id="icon_profile_id">See my full profile</a></p> </section> </article> <article class="article_aside_contact"> <div class="div_profile_image_container"> <img src="/content/dam/cliffordchance/profiles/600000/622146-half.png/_jcr_content/renditions/original" width="200" height="166" alt="Shaun Langhorne"/> </div> <section class="section_aside_contact section_class"> <h3>Shaun Langhorne</h3> <h4>Partner</h4> <h5> <a class="icon_chair" href="/people_and_places/people/offices/singapore.html" title="Clifford Chance, Singapore">Singapore</a> </h5> <p class="icon_phone" onClick="ga('send', 'event', { eventCategory: 'Tel Num Clicks', eventAction: 'click'});"> +6565061971</p> <p> <a class="icon_email" href="mailto:Shaun.Langhorne@cliffordchance.com" onclick="ga('send', 'event', { eventCategory: 'People & Partner Contact Form Submissions', eventAction: 'click'});linkClick('Asia Pacific Restructuring and Insolvency Procedures|expertssimple|\/content\/cliffordchance\/expertise\/services\/finance\/apac\u002Drestructuring\u002Dand\u002Dinsolvency\u002Dguide|Email|Email|Email Clicked');"> Email Shaun </a> </p> <p class="p_contact_link"><a href="/people_and_places/people/partners/sg/shaun-langhorne.html" class="icon_profile" id="icon_profile_id">See my full profile</a></p> </section> </article> <article class="article_aside_contact"> <div class="div_profile_image_container"> <img src="/content/dam/cliffordchance/profiles/910000/916047-half.png/_jcr_content/renditions/original" width="200" height="166" alt="Nish Shetty"/> </div> <section class="section_aside_contact section_class"> <h3>Nish Shetty</h3> <h4>Partner, Clifford Chance Asia*</h4> <h5> <a class="icon_chair" href="/people_and_places/people/offices/singapore.html" title="Clifford Chance, Singapore">Singapore</a> </h5> <p class="icon_phone" onClick="ga('send', 'event', { eventCategory: 'Tel Num Clicks', eventAction: 'click'});"> +6564102285</p> <p> <a class="icon_email" href="mailto:nish.shetty@cliffordchance.com" onclick="ga('send', 'event', { eventCategory: 'People & Partner Contact Form Submissions', eventAction: 'click'});linkClick('Asia Pacific Restructuring and Insolvency Procedures|expertssimple|\/content\/cliffordchance\/expertise\/services\/finance\/apac\u002Drestructuring\u002Dand\u002Dinsolvency\u002Dguide|Email|Email|Email Clicked');"> Email Nish </a> </p> <p class="p_contact_link"><a href="/people_and_places/people/partners/sg/nish_shetty.html" class="icon_profile" id="icon_profile_id">See my full profile</a></p> </section> </article> <article class="article_aside_contact"> <div class="div_profile_image_container"> <img src="/content/dam/cliffordchance/profiles/600000/630895-half.png/_jcr_content/renditions/original" width="200" height="166" alt="Nikki Smythe"/> </div> <section class="section_aside_contact section_class"> <h3>Nikki Smythe</h3> <h4>Partner</h4> <h5> <a class="icon_chair" href="/people_and_places/people/offices/sydney.html" title="Clifford Chance, Sydney">Sydney</a> </h5> <p class="icon_phone" onClick="ga('send', 'event', { eventCategory: 'Tel Num Clicks', eventAction: 'click'});"> +61289228092</p> <p> <a class="icon_email" href="mailto:nikki.smythe@cliffordchance.com" onclick="ga('send', 'event', { eventCategory: 'People & Partner Contact Form Submissions', eventAction: 'click'});linkClick('Asia Pacific Restructuring and Insolvency Procedures|expertssimple|\/content\/cliffordchance\/expertise\/services\/finance\/apac\u002Drestructuring\u002Dand\u002Dinsolvency\u002Dguide|Email|Email|Email Clicked');"> Email Nikki </a> </p> <p class="p_contact_link"><a href="/people_and_places/people/partners/au/nikki-smythe.html" class="icon_profile" id="icon_profile_id">See my full profile</a></p> </section> </article> </section> </section> <section id="section_aside_contacts_list"> <section class="section_aside_contacts_list_hcarrier" data-thisiteration="0"> <article class="article_aside_contact_small"> <a data-thisiteration="1" class="a_people_thumb" href="#"> <img src="/content/dam/cliffordchance/profiles/900000/907617-half.png/_jcr_content/renditions/original" width="120" height="100" alt="Mark Gillgren"/> <p> Mark <br/> Gillgren </p> <h2 class="pageColour_text">Partner</h2> <h3>Perth</h3> </a> </article> <article class="article_aside_contact_small"> <a data-thisiteration="2" class="a_people_thumb" href="#"> <img src="/content/dam/cliffordchance/profiles/600000/626800-half.png/_jcr_content/renditions/original" width="120" height="100" alt="James Hewer"/> <p> James <br/> Hewer </p> <h2 class="pageColour_text">Counsel</h2> <h3>Perth</h3> </a> </article> <article class="article_aside_contact_small"> <a data-thisiteration="3" class="a_people_thumb" href="#"> <img src="/content/dam/cliffordchance/profiles/910000/918565-half.png/_jcr_content/renditions/original" width="120" height="100" alt="Lei Shi"/> <p> Lei <br/> Shi </p> <h2 class="pageColour_text">Managing Partner, Mainland China</h2> <h3>Shanghai</h3> </a> </article> <article class="article_aside_contact_small"> <a data-thisiteration="4" class="a_people_thumb" href="#"> <img src="/content/dam/cliffordchance/profiles/930000/931054-half.png/_jcr_content/renditions/original" width="120" height="100" alt="Phoebe Lo"/> <p> Phoebe <br/> Lo </p> <h2 class="pageColour_text">Partner</h2> <h3>Hong Kong</h3> </a> </article> <article class="article_aside_contact_small"> <a data-thisiteration="5" class="a_people_thumb" href="#"> <img src="/content/dam/cliffordchance/profiles/700000/785050-half.png/_jcr_content/renditions/original" width="120" height="100" alt="Yusuke Abe"/> <p> Yusuke <br/> Abe </p> <h2 class="pageColour_text">Partner</h2> <h3>Tokyo</h3> </a> </article> <article class="article_aside_contact_small"> <a data-thisiteration="6" class="a_people_thumb" href="#"> <img src="/content/dam/cliffordchance/profiles/910000/916237-half.png/_jcr_content/renditions/original" width="120" height="100" alt="Suguru Kimura"/> <p> Suguru <br/> Kimura </p> <h2 class="pageColour_text">Counsel</h2> <h3>Tokyo</h3> </a> </article> <article class="article_aside_contact_small"> <a data-thisiteration="7" class="a_people_thumb" href="#"> <img src="/content/dam/cliffordchance/profiles/600000/622146-half.png/_jcr_content/renditions/original" width="120" height="100" alt="Shaun Langhorne"/> <p> Shaun <br/> Langhorne </p> <h2 class="pageColour_text">Partner</h2> <h3>Singapore</h3> </a> </article> <article class="article_aside_contact_small"> <a data-thisiteration="8" class="a_people_thumb" href="#"> <img src="/content/dam/cliffordchance/profiles/910000/916047-half.png/_jcr_content/renditions/original" width="120" height="100" alt="Nish Shetty"/> <p> Nish <br/> Shetty </p> <h2 class="pageColour_text">Partner, Clifford Chance Asia*</h2> <h3>Singapore</h3> </a> </article> <article class="article_aside_contact_small"> <a data-thisiteration="9" class="a_people_thumb" href="#"> <img src="/content/dam/cliffordchance/profiles/600000/630895-half.png/_jcr_content/renditions/original" width="120" height="100" alt="Nikki Smythe"/> <p> Nikki <br/> Smythe </p> <h2 class="pageColour_text">Partner</h2> <h3>Sydney</h3> </a> </article> </section> </section> </div> <div class="imageAndTextLink"> <a class="a_image_text_link_pod image_link_1" href="/content/dam/cliffordchance/PDFDocuments/apac-r-and-i-guide.pdf" target="_blank"> <img src="/content/dam/cliffordchance/client-portal/images/building-cover-image.jpg" width="348" height="100" alt="building-cover-image"/> <h2 style="padding-left: 10px !important;">Download Now</h2> <p></p> </a> </div> </div> </aside> <div class="parsysfullwidth parsys"> </div> </div> </article> </div> <div class="clearfloat aem-GridColumn aem-GridColumn--default--12"><div style="display: block; width: 100%; height: 20px; clear: both; text-align: 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