The Scheme of Arrangement (Scheme) for the restructuring was sanctioned by the High Court of Hong Kong on March 13, 2025. Completion is anticipated by the end of April 2025. This complex transaction involves a diverse range of financial instruments. Impressively, the Scheme garnered the support of an overwhelming 98.75% of Scheme creditors, marking a significant milestone in statutory financial restructuring for Mainland Chinese property developers. This restructuring further highlights Appleby’s expertise in managing complex restructuring cases for its clients, building on the success of the landmark USD 6 billion offshore debt restructuring for Sino-Ocean Group.
The landmark transaction was led by Managing Partner of Hong Kong and Mainland China, David Bulley and Partner, Lorinda Peasland and supported by members of Appleby’s Hong Kong office, including Senior Associates, Alejandra Gonzalez Saucedo and Angelina Wong, Associates, Denise Tse and Ashley Chung.
Appleby is a leading offshore law firm, with a reputation for delivering effective, client-focused solutions. Specialising in legal matters across multiple jurisdictions, including Cayman Islands and British Virgin Islands, Appleby is dedicated to empowering clients to thrive in an increasingly complex environment.
