News

23 June 2017 – WongPartnership is the only Singapore law firm ranked by the Global Restructuring Review (GRR) in its top 30 list of leading firms for restructuring & insolvency globally.

Called the GRR 30, these firms top a list of 100 firms identified by GRR in their guide to the world's best cross-border restructuring & insolvency practices all of which have been identified as "a safe pair of hands for carrying out insolvency and restructuring work with an international dimension."

WongPartnership was selected based on its track record, value of current cross-border restructuring and insolvency cases and the number of active cross-border restructuring and insolvency matters handled in the last two years.

In addition to being ranked in the top 30 of restructuring & insolvency firms worldwide, WongPartnership was nominated for two other awards at the GRR Awards dinner held at the Waldorf Hilton in London on 21 June 2017:

• The Most Important Recognition Decision Award – The landmark ruling in Re Opti-Medix Ltd (in liquidation) and another matter case [2016] SGHC 108 saw the Singapore courts recognising and assisting a Japanese trustee of two BVI companies in the absence of any insolvency proceedings in the BVI. This seminal judgment affirms that bankruptcy proceedings in a foreign company's centre of main interests but not in its place of incorporation, can be recognised in Singapore.
• The Small/Regional Law Firm That Impressed Award – Successfully acted as counsel to major financiers objecting to a worldwide moratorium sought from the Singapore courts by affiliates of Pacific Andes Resources Development and its affiliates, all of which are part of the China Fishery Group, and undergoing a global restructuring.

Joint Head of WongPartnership's Restructuring & Insolvency Practice, Mr Manoj Sandrasegara, said: "The innovative legislative amendments by our government has been a game-changer in strengthening Singapore's ability to help troubled companies in the region rehabilitate effectively. As a firm that continuously thrives on developments that shape Singapore's restructuring and insolvency laws, we are honoured by the international recognition of WongPartnership's Restructuring & Insolvency Practice. For this honour, we would like to thank our valued clients who continue to entrust to us their most complex and important cross-border insolvency matters."