Harneys advises China Aoyuan Group on the sanction of schemes of arrangement
The sanction of the China Aoyuan Schemes and the Add Hero Schemes by the Courts of Hong Kong SAR, Cayman Islands, and the British Virgin Islands is a significant milestone towards the holistic restructuring of Aoyuan’s material indebtedness. It demonstrates Aoyuan’s continued efforts to protect the interests of all stakeholders of the company, and to maintain Aoyuan’s overall ability to deliver its projects on schedule and safely as well as to continue its business operations.
The Harneys team advised Aoyuan on the implementation of schemes in the Cayman Islands and the British Virgin Islands in order to facilitate the restructuring of the material financial indebtedness of Aoyuan and, its immediate subsidiary, Add Hero.
The Harneys team was led by Partners Chai Ridgers, Claire Goldstein and Ben Hobden, supported by Counsels Natasha Guthrie and Charles Wong, and Senior Associates Sanjev Guna and Caitlin Murdock.
Harneys dedicated Global Restructuring group offers specialist expertise required to navigate the complexities which can arise for a distressed company in a cross-border environment. Led by a team of ranked partners, the group works closely with the firm’s formidable Transactional, Litigation, Funds, Trusts, Tax, and Regulatory teams, providing clients with a seamless service and bespoke legal advice that is tailored to their individual needs.