Recently, Chai has played an instrumental role advising on a number of global restructurings concerning offshore entities, including:
Advising China Singyes Solar Technologies Holdings Limited on the successful restructuring of over US$552 million outstanding bonds and convertible notes through inter-conditional parallel schemes of arrangement in Bermuda and in Hong Kong.
Advising the former provisional liquidators of Hsin Chong Group Holdings Limited on the restructuring of over HK$14.7 billion outstanding notes, loans and other indebtedness in Bermuda and in Hong Kong.
Advising the company and the provisional liquidators of China Agrotech Holdings Limited on the restructuring of its HK$1,677.9 million of debt and on novel shareholder issues, resulting in a successful reverse takeover and relisting on the Stock Exchange of Hong Kong Limited.
Advising the provisional liquidators in relation to the restructuring of over US$1 billion debts and liabilities of China Lumena New Materials Corp.
Advising GTL International Limited and the subsequently appointed provisional liquidators on the restructuring of the company’s US$41 million in liabilities and subsequent successful sale of the company’s shareholdings in its subsidiaries to an investor.
Advising the Coordinating Committee of Lenders and Deutsche Bank in relation to Noble Group's US$3.5 billion debt restructuring.
Advising Global A&T Electronics Ltd (GATE) (owned by Affinity Equity Partners and TPG Capital) on the restructuring of US$1.12billion senior secured notes issued by GATE.
Acting for certain Club Lenders and subsequently the liquidators of a number of Pacific Andes entities connected with the high-profile US$1.6 billion restructuring involving multiple proceedings in the US, Hong Kong, Cayman Islands and Bermuda.
Advising certain Lenders in relation to the restructuring of US$750 million debts and liabilities of Mongolian Mining Corporation, an entity incorporated in Cayman and listed on the HKSE, and its subsidiaries.
Advising certain shareholders in relation to China Shanshui Cement Group Limited, a company listed on the HKSE.
Acting 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 BVI.
Advising the Lenders and subsequent Provisional Liquidators in relation to the restructuring of the debts and liabilities of Z-Obee Holdings Limited, a HKSE-listed company.
Advising Aluminium Corporation of China on its proposed privatisation of Chinalco Mining Corporation International, a Cayman Islands incorporated and HKSE-listed company, by way of a scheme of arrangement.
Advising the ad hoc bondholder group in relation to the proposed US$2.78 billion restructuring of LDK Solar Co. Ltd (then in provisional liquidation), a leading producer of solar wafers and manufacturer of photovoltaic products incorporated in the Cayman Islands and with manufacturing facilities in the PRC.
Acting for the largest creditor in Suntech Power Holdings Co. Ltd’s provisional liquidation and restructuring.
Advising the largest creditor on the restructuring of Dalian Rightway Real Estate Development Co. Ltd.'s US$446 million pre-IPO facilities.
Advising the Adhoc Committee of Bondholders in relation to the restructuring of Hidili Industry International Development Limited, a HKSE-listed company.
Acting for the company and subsequently for certain bondholders in Greens Holdings Limited's provisional liquidation and restructuring.
Advising HKSE-listed PRC property development firm Kaisa Group on the restructuring of US$2.5 billion of offshore debts, in the largest judicially approved, multi-jurisdictional debt restructuring of a China-based group.
Advising Z-Obee Holdings and its Hong Kong-appointed Joint Provisional Liquidators, on their continued efforts to restructure Hong Kong-based electronics manufacturer Max Sunny and Bermudian parent Z-Obee Holdings in relation to the non-payment of US$78 million in outstanding facilities.
Advising Titan Resources Management Limited on the successful approval of a BVI scheme of arrangement for which Harneys won the Asia Transformation and Turnaround Association (ATTA) Legal Services Award.