Light at the end of the tunnel – A case study of a successful restructuringOctober 3, 2022Singapore: In his opening remarks at the SICC INSOL seminar on debt restructuring in the Asia-Pacific held on 22 September 2022, Second Minister for Law Edwin Tong SC cited the court sanctioned schemes of arrangement of Singapore-listed Pacific Radiance group as an example of the Singapore insolvency framework facilitating successful outcomes. This article is a case study of a debt restructuring success story, and the long journey that we walked with our client.
Sanctions – how can financiers of yachts and private jets stay ahead of the game?July 14, 2022Following Russia's invasion of Ukraine in February 2022, global sanctions lists have expanded dramatically and additions are being made regularly. New sanctions have taken aim not only at Russia's war machine, but also those closely connected to the Kremlin, Russia's central bank and Russia's broader economy. Some sanctions and export restrictions go so far as to target persons "connected with" Russia or equipment operating in or from Russia. The immediate impact of these sanctions upon oligarchs' private yachts and jets is well publicised, with images of seized yachts and jets splashed across the press.
No oral modification clauses: Perspectives from SingaporeOctober 19, 2021Singapore: No oral modification clauses (NOM clauses) are a common feature of commercial contracts. They seek to invalidate modifications to a contract unless they are made in writing. An enlarged five-judge coram of Singapore’s highest court (the Court of Appeal (SGCA)) has recently considered the vexed question of whether NOM clauses should be strictly applied. This update examines the SGCA’s decision and provides key takeaways.
Dentons advises syndicate of financiers on a landmark Shari'a-compliant syndicated ship financing for the construction of three new state-of-the-art VLGCsMarch 28, 2024United Arab Emirates: Dentons has acted as legal counsel to the syndicate of financiers on a landmark Shari'a-compliant syndicated ship financing totalling US$235 million for an Al Seer Marine and BGN joint venture, ABGC. The financing marks the second tranche of a larger syndicated financing totalling US$370 million for the delivery of five dual-fuel-efficient vessels in total.
Dentons advises on innovative ship finance dealMay 13, 2022Dentons has advised Abu Dhabi Islamic Bank as the arrangers on a US$135 million Islamic pre- and post-delivery financing for a joint venture company incorporated by Al Seer Marine Supplies and Equipment Company PJSC and BGN INT DMCC.
Dentons advises on one of the largest ship finance dealsMay 27, 2015Dentons has advised on a US$550 million conventional and Islamic multi-tranche facility to Dubai-based oilfield services firm Topaz Energy and Marine, completed on 30 April 2015.