TAN Kai Yun

Matters of significance in which Kai Yun has been involved in include advising / acting for the following:

• Pacific International Lines (Private) Limited, one of the largest carriers in the region, in a successful restructuring of its debts in excess of US$3 billion in Singapore, via a pre-packaged scheme of arrangement.
• The judicial managers of Xihe Holdings Pte. Ltd., and over 40 of its subsidiaries to run a competitive structured sale process and vessel trading programme for a fleet consisting of over 80 vessels of varying types and sizes, following the collapse of its associates Hin Leong Trading and Ocean Tankers due to fraud.
• Oversea-Chinese Banking Corporation Limited in the liquidation of Hin Leong Trading Pte. Ltd. involving liabilities in excess of US$3.5 billion, advising them on their cargo claims and also representing the client in defending claims brought under documentary letters of credit brought by suppliers.
• As Singapore counsel to UK-incorporated subsea services provider EMAS Chiyoda Subsea Limited in its restructuring of liabilities of US$900 million, which was implemented by way of a process commenced under Chapter 11 of the U.S. Bankruptcy Code, which necessitated a recognition of substantive foreign insolvency orders under the common law in Singapore, overturning the long-established Gibbs principle.
• Crypto-asset lender in the cross-border liquidation of crypto-asset hedge fund Three Arrows Capital, involving liabilities in excess of US$3.5 billion, with its main liquidation proceeding based in the British Virgin Islands.
• A Korean gaming company in four complex multi-party and multi-contract arbitrations against its Chinese licensees / Korean co-licensor under the ICC and SIAC successfully, resulting in favourable awards totalling US$141 million.
• Oversea-Chinese Banking Corporation Limited, the largest creditor in the liquidation of the Coastal Oil group, and acting in proceedings to recover a sum of US$131 million incurred by the group's founder singly, from his co-mortgagor (reported in OCBC v Lim Sor Choo [2020] SGHC 116).

Related Practice

• Restructuring & Insolvency
• Special Situations Advisory

• Letters of Credit: Court of Appeal Affirms Fraud Exception for Recklessly Made False Representations
• Insolvency Officeholders Series, Part 1: Duties and Decisions
• A Set of Set-Offs or Just the One: Insolvency Set-Off in Liquidation
• Unpacking Directors’ Duties to Creditors: A Close Look at the OP3 International Decision
• Singapore Restructuring Insolvency Yearbook 2023
• Letters of Credit: Court of Appeal Clarifies Scope of Fraud Exception, Letters of Indemnity and Warranties as to "Marketable Title" of Goods
• Letters of Credit: Banks Successfully Prove Fraud Exception Where Beneficiary Recklessly Made False Representations
• Non-Performing Corporate Loan Toolkit for Banks
• Singapore High Court Finds Co-Mortgagors in "All-Moneys" Mortgage Jointly and Severally Liable for Debts Incurred by Each of Them Singly

Kai Yun’s expertise in Restructuring and Insolvency has been recognised by various directories. Both IFLR1000 – The Guide to the World's Leading Financial Law Firms and Euromoney asialaw Leading Lawyers have recognised Kai Yun as a "Rising Star" , and later as "Rising Star Partner" , for their 2022-2024 guides. She was also awarded the "Rising Star Award" in 2024 by the International Women's Insolvency & Restructuring Confederation (IWIRC). Kai Yun has been described by clients to "be very well versed in insolvency practice" , providing advice that is "balanced with practical considerations" . She has also been known to "provide valuable legal advice and recommendations" and "provide value-add on new legal judgments and how it impacts our line of work".