Harneys Hong Kong advises Titan Resources in BVI scheme of arrangement

Harneys acted for Titan Resources Management Limited, a group company of Titan Petrochemicals Group Limited, in relation to the implementation of a scheme of arrangement in the British Virgin Islands. The Harneys team arranged for a restructuring by way of scheme of arrangement pursuant to section 179A of the BVI Business Companies Act. This enabled the company and its subsidiaries to retain core assets and business capabilities including but not limited to its international distribution network. 
 
Titan Petrochemicals Group is the largest provider of logistics, transportation, distribution and marine service provider for petrochemical products in the Asia Pacific region with an annual turnover of US$5 billion.
 
The Harneys team was led by Partner Ian Mann and included Counsel Chai Ridgers. The firm’s work in this matter garnered a 2015 Asia Transformation and Turnaround Association Award.