Shirleen Tan
Partner
Singapore
Completed through a court-sanctioned Hong Kong scheme of arrangement, this milestone transaction marks one of the most complex and prolonged restructurings in the Chinese real estate sector. It paves the path for creditors and stakeholders resolving multi-jurisdictions challenges in the Greater China property market.
Cross-border, seamless legal expertise
Our team, led by partner Shirleen Tan with support from senior associate Helena Chu and legal manager Carina Chan, advised on all the Cayman Islands and British Virgin Islands law aspects of the transaction. We collaborated closely with A&O Shearman and other advisors to deliver a seamless, multi-layered restructuring process, including several project and asset-based bank debt refinancings.
A first mover in a shifting market
Shimao is a major Hong Kong-listed Chinese property developer with significant Hong Kong investments and a complex corporate and debt structure. The group's operations were heavily impacted by COVID-19 and the Mainland China property downturn. In early 2022, it became one of the first major developers to engage creditors in a structured debt restructuring. The process took over three years to complete.
Trusted. Proven. Global.
This transaction reinforces our reputation in high-value, multi-jurisdictional restructurings. Clients rely on our:
- Deep offshore legal expertise
- Collaborative, commercially focused approach
- Proven ability to navigate market volatility
- We continue to offer tailored solutions and help clients stay ahead in the dynamic and evolving market.
Read more about the transaction here.
