Edward Tiong

Partner

Edward is the Deputy Head of the Firm’s Restructuring & Insolvency Practice. His main areas of practice are corporate restructuring and insolvency, commercial and banking litigation and property disputes. He has been lead counsel in several high-profile restructuring matters (both cross-border and domestic) and commercial disputes. Such cases include the restructuring of Hin Leong Trading Pte Ltd, Ocean Tankers (Pte.) Ltd, Xihe Holdings Pte Ltd and Universal Terminal entities; the restructuring of Pacific International Lines; the restructuring of Hyflux Group; and the restructuring of Brightoil Petroleum Singapore Pte Ltd.

In insolvency, he has advised statutory boards, government-linked companies, major banks, corporates and financial institutions on schemes of arrangements and compromise, judicial management, liquidation, standstills and clawbacks.

In litigation, he has represented major banks and blue chip companies in private banking, construction, property and commercial disputes, as well as fraud investigations.

Edward has been recommended for his expertise in several legal publications such as Chambers Asia-Pacific, The Legal 500 Asia Pacific and Benchmark Asia-Pacific. In IFLR1000, he is highly regarded for his expertise in Restructuring and Insolvency. He is also mentioned as a prominent partner in Global Restructuring Review and is recommended in Who’s Who Legal (WWL): Restructuring & Insolvency 2022 as a thought leader. WWL notes that Edward “‘strives to find solutions to problems’ and is ‘creative and constructive when taking into account different stakeholders’ concerns and needs’. He is ‘cool and collected even under the most trying situations’”. Recent accolades from Chambers Asia-Pacific note that Edward “got a very sharp mind and the depth of his experience comes through”. He “has very good commercial awareness and client-liaison skills; his management of the relationship is exceptional” and is “a good, sound practitioner”.

Edward has also written extensively and is a co-author of Halsbury’s Laws of Singapore on Insolvency. He is a Fellow of the Insolvency Practitioners Association of Singapore.

During the COVID-19 pandemic, Edward was appointed as an Assessor on the Panel of Assessors for COVID-19 Temporary Relief (PACT) set up by the Ministry of Law, to determine cases on whether temporary relief to individuals and companies ought to be given under the COVID-19 (Temporary Measures) Act 2020.

Edward graduated from the University of Hull with an LL.B. (Hons) degree. He joined Allen & Gledhill after his call to the Singapore Bar in 1998.

Work Highlights

• Acting as main counsel and advisor for the informal steering committee comprising the 10 major creditors holding US$1.34 billion of debt on the restructuring of PIL as well as representing this committee in all court hearings. This matter involved restructuring across multiple jurisdictions of a very substantial amount of debt and assets (which included a large fleet of vessels and containers) and involved complex stakeholder management issues between the different groups of creditors during a particularly challenging and rapidly evolving time for the container shipping industry.
• Acting as lead counsel for SembCorp on the restructuring and obtaining of injunctive relief on aspects of the Hin Leong Trading Pte Ltd (“HLT”), Ocean Tankers (Pte.) Ltd (“OT”), Xihe Holdings Pte Ltd (“Xihe”) and Universal Terminal entities. Our firm has been advising, across different teams, one of the largest (if not the largest) and most significant/influential set of creditors (in particular, secured creditors and trade finance creditors) of HLT, OT and/or Xihe, respectively, by value. This matter also involves cross-border issues including vessel repossession and enforcement, restructuring and insolvency, financing and security arrangements including ship mortgages and pledges on cargoes, interpleader proceedings to determine competing title claims over cargoes in various jurisdictions and letter of credit disputes. 
• Lead Counsel for Development Bank of Singapore in relation to the Hyflux Group’s S$2.8 billion potential restructuring. Our expertise in cross-border insolvency, banking, and construction and project financing is a main feature in the representation of our clients. Hyflux’s financial difficulties came to light unexpectedly and with wide repercussions in the energy, gas and water market. The proposed restructuring potentially involves the whole range of features under the recently enacted Companies Act provisions for schemes of arrangement, including extra-territorial moratoriums and super-priority rescue financing.
• Advising Bank of China, Shenzhen Branch (“BOC”) in relation to the proposed restructuring of Brightoil Petroleum Singapore Pte Ltd (“BOPS”). BOPS is a key subsidiary of the Brightoil Group, which is one of the largest non-state owned oil and gas businesses in China. BOC is the largest creditor of BOPS with claims in excess of US$290 million.
• Advising various statutory boards and an Indonesian mining company on the restructuring and insolvency of a company that provides engineering and construction services in South-east Asia and an international EPC contractor providing services for energy, infrastructure and defence sectors.