[Webinar] Utilising Singapore (and Other Offshore Jurisdictions) to Restructure Indonesian Companies

ABLI’s second webinar of 2021 looked specifically at the use of offshore regimes, such as Singapore, in the restructuring of Indonesian companies. 

Singapore is emerging as the choice jurisdiction for some Indonesian companies looking to restructure their debts, utilising Singapore’s Insolvency, Restructuring and Dissolution Act. A series of key developments has taken place since the second half of 2020, especially those surrounding PT MNC. However, concerns exist as to how effective Singapore is for Indonesian restructurings. Why are Indonesian companies looking to restructure in Singapore? In which situations does a Singapore restructuring work well (or not at all)? What are the alternatives to using Singapore? 

On the other hand, Indonesia’s suspension of payment procedure, or PKPU, continues to pose challenges to parties outside the country who may be less familiar with its operations. 

Co-organised with INSOL International, this webinar looked at some of these interesting questions with speakers working on the ground in Indonesia and Singapore. It included discussions of:

• Singapore as the centre of fundraising activities for Indonesian companies

• PKPU proceedings (Indonesia’s restructuring regime)

• Singapore’s Insolvency, Restructuring and Dissolution Act

• Interaction between Indonesian and Singaporean proceedings

• First-hand accounts from practitioners active in the restructuring of Indonesian companies, such as PT MNC Investama

Speakers for this webinar were: Tahirah Ara, Managing Partner, Singapore and Head of Asia, Mishcon de Reya LLP; Michael S. Carl, Senior Foreign Legal Advisor, SSEK Legal Consultants; and Meiyen Tan, Partner and Head of Restructuring & Insolvency, Oon & Bazul LLP.