Restructuring and insolvency boutique firm BlackOak is focused solely on distressed and special situations matters, acting exclusively for insolvency professionals, debtors, creditors and funds. It is widely respected in the market among peers and clients. Its independent status allows the firm to remain untethered to particular clients and the ‘big four’ full-service firms routinely refer work to it. The team is best known for its corporate restructuring and insolvency practice and has acted on some landmark cases. The firm is especially active in the financial services, energy and shipping areas, and is often instructed in cross-border restructurings. The team has a niche specialty in bond restructurings and it is a market pioneer on third-party litigation funding in insolvency situations. The firm recently expanded its capabilities in India, Indonesia and Hong Kong, and has an impressive roster of cross-border mandates under its belt. Demonstrating the firm’s penchant for shaping restructuring & insolvency law, BlackOak successfully established the untested position in Singapore that a director’s resignation can be withdrawn via conduct of the board and shareholders under Sections 399 and 409A of the Companies Act.
Directors Ashok Kumar and Darius Tay, along with associate director Derrick Teo, are key figures in the firm’s insolvency practice.
A group of senior creditors of China Fishery Group has instructed BlackOak for the company’s restructuring. The team is also assisting the informal steering committee of the syndicated bank lenders in the restructuring of PT Pan Brothers through a pre-packaged scheme of arrangement in Singapore. Another highlight has the team representing SPGK as non-party in relation to the Recognition Application in Singapore of Ascentra Holdings’ solvent members’ voluntary liquidation commenced in the Cayman Islands. A novel point of law was raised in this matter given that there has been no decided Singapore case on the definition of a “foreign proceeding” under Article 2(h) of the Singapore Model Law, and various jurisdictions had different interpretations.
“Solid commercial legal advice which incorporates practical aspects.” – Insolvency
“He is very experienced and provides pragmatic advice with valuable insights.”