20 Jun 2019
ABNR Recognized as Leading Cross-border Restructuring & Insolvency Firm by ‘Global Restructuring Review’
ABNR has been recognized as one of the world’s top 100 law firms for cross-border restructuring & insolvency work by specialist international legal publication Global Restructuring Review (GRR). ABNR is one of only two Indonesian law firms to be so recognized. A number of ABNR partners/foreign counsel are also singled out by GRR as “names to know”, namely, Mr. Theodoor Bakker, Mr. Emir Nurmansyah, Mr. Nafis Adwani, Mr. Sahat Siahaan, Mr. Herry Kurniawan and Mr. Kevin Sidharta.
Launching the GRR 100 on June 17, GRR deputy editor Douglas Thomson noted: “At a time when business operates in a globalised world, relying on counsel who are inward looking or inexperienced in cross-border matters can be damaging. We’ve vetted each firm in the survey for its demonstrable experience, and can confidently say that they’re a safe pair of hands. We’re proud that this year’s guide is the most diverse yet, with firms from 37 separate jurisdictions represented.”
The full GRR 100 is available on GRR’s website: https://globalrestructuringreview.com/edition/1001330/grr-100-2019
This latest recognition for ABNR reflects the extensive experience garnered by our restructuring & insolvency lawyers over many years. Indeed, ABNR lawyers served on the committee that drafted the country’s current insolvency legislation back in 1998 (as subsequently amended in 2004).
Since then, we have been involved in virtually all high-profile / high-value restructuring and insolvency proceedings in Indonesia, including the USD 2 billion debt restructuring of PT Berlian Laju Tanker Tbk in 2012-2013, when we represented various vessel-lessor and shipowner creditors in the Indonesian court-sanctioned debt restructuring process. Subsequently, in 2014-2015, we represented MLA lender KKR in what became Indonesia’s first ever out-of-court amendment of a court-approved restructuring plan.
We were also heavily involved in the USD 4.5 billion global debt restructuring of Bumi Resources, when we represented various creditors, bondholders/noteholders and trustees, including China Development Bank (one of Bumi’s largest creditors), Madison Pacific Trust Ltd and Pathfinder Strategic Credit LP. This was Southeast Asia’s largest debt restructuring deal of 2016/2017 and one of the most complex deals ever of its kind in the region.
In addition, ABNR has particular expertise in aviation industry restructurings and insolvencies, having represented various aircraft-lessor creditors in two of the largest ever such matters in the region, namely, the Indonesian court-sanctioned debt restructuring of PT Mandala Airlines and the PT Metro Batavia insolvency.
GRR is not alone in recognizing ABNR’s restructuring & insolvency capabilities. For example, we were named “Restructuring & Insolvency Law Firm or the Year” at the 2018 Asian Legal Business Indonesia Law Awards, and are ranked as a Tier 1 firm for Restructuring & Insolvency by Legal 500 Asia Pacific (2019 edition), which also lists ABNR Foreign Counsel Theodoor Bakker as a “Leading Lawyer” for this practice area. Meanwhile, IFLR 1000 recognizes ABNR Partner Emir Nurmansyah as a “market leader” and Theodoor Bakker as a “highly regarded” practitioner for restructuring and insolvency.
For more information on how ABNR’s Restructuring & Insolvency Dept. can assist you, please contact Mr. Theodoor Bakker (firstname.lastname@example.org), Mr. Emir Nurmansyah (email@example.com), or Mr. Kevin Sidharta (firstname.lastname@example.org).
This ABNR News and its contents are intended solely to provide a general overview, for informational purposes, of selected recent developments in Indonesian law. They do not constitute legal advice and should not be relied upon as such. Accordingly, ABNR accepts no liability of any kind in respect of any statement, opinion, view, error, or omission that may be contained in this Legal Update. In all circumstances, you are strongly advised to consult a licensed Indonesian legal practitioner before taking any action that could adversely affect your rights and obligations under Indonesian law.