Knowledge Highlights 26 November 2024
Cross Border Restructuring & Insolvency 2012-2022: Cases and Developments - Aero Inventory
Allen & Gledhill Partners Andrew Chan, Alexander Lawrence Yeo and Jo Tay co-authored the chapter on the Aero Inventory case in Cross Border Restructuring & Insolvency 2012-2022: Cases and Developments, published by Wolters Kluwer Legal & Regulatory, the Netherlands. The chapter, part of a book on major changes in international insolvency law and influential cross-border restructurings, relates to the Aero group of companies, which provided services to companies in the aerospace industry. The chapter sets out the background to the English administrations which were unique, due to the nature of the Aero group and its assets. The global nature of the business gave rise to a number of cross-border considerations and as part of this, applications for recognition of the English administration orders were made in a number of overseas jurisdictions. The case also required some innovative thinking on behalf of the administrators in order to achieve maximum realisations for the creditors. Specifically, this chapter relates to the applications for recognition that were made in Singapore.
The case is significant for being the first known decision in Singapore in which cross border recognition and assistance was granted by a Singapore court after full arguments.
Read the full chapter here. More information on the book is available here.
