Harneys advises Kaisa Group on the successful restructuring of its US$12.3 billion offshore debt
The restructuring was implemented through parallel and inter-conditional schemes of arrangement for both Kaisa and its principal subsidiary, Rui Jing Investment Company Ltd., across Hong Kong, the Cayman Islands, and the British Virgin Islands. The restructuring, which became effective on 15 September 2025, significantly reduces Kaisa Group’s debt burden and enhances its financial position.
The Harneys team was led by Partners Chai Ridgers, Ben Hobden, Christopher Pease, and Strachan Gray, supported by Counsels Caitlin Murdock and Victoria Lissack, Senior Associates Sanjev Guna and Robert Maxwell Marsh, Associate Celine Kee, and Legal Manager Urvashi Salecha.
This transaction further solidifies the firm’s reputation for handling landmark restructurings. Other notable deals include the recent US$6.7 billion offshore debt restructuring for Yuzhou Group, advising China Aoyuan Group on its successful restructuring of US$6.2 billion of offshore liabilities, guiding Luckin Coffee through its successful restructuring, and providing counsel to Virgin Group in relation to Virgin Atlantic’s £1.2 billion solvent recapitalisation.
Harneys' dedicated Global Restructuring Group offers the specialist expertise required to navigate the complexities that 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 seamless service and bespoke legal advice that is tailored to their individual needs.
