Clifford Chance houses a specialised and dedicated restructuring and insolvency practice led by Shaun Langhorne, who leads the team alongside Nish Shetty, a top dispute resolution practitioner with a background in restructuring and insolvency cases. The group continues to land many of the biggest mandates in Southeast Asia and the broader Asia Pacific region, particularly in insolvency and insolvency litigation. It remains especially active in India, where the group continues to advise private capital houses on structuring investments and transactions with additional downside protection. Indonesia, Malaysia and Vietnam are also key markets for the team. The group represents all major stakeholders in restructuring and insolvency situations, including debtors, creditors and financial advisers. The team frequently works alongside colleagues in other offices, particularly Hong Kong and London; it was engaged alongside the London office to advise Prosafe on its financial restructuring.

Linklaters is known for its ability to land major debtor and bondholder engagements across Asia Pacific. It is one of few international law firms in Singapore to have a dedicated restructuring and insolvency partner leading a significant team on matters throughout the region. The group has experienced further growth in dealing with major financial debt defaults in the Chinese real estate sector, often for large real estate developers, along with further activity in financial services, energy, and healthcare. The Singapore group works in close collaboration with the Hong Kong-based team to provide wide-ranging Asia Pacific coverage. ‘Market leader‘ Andrew Payne, a genuine specialist in the area, continues to play a pivotal role in the firm’s strong restructuring and insolvency reputation; he is also noted for his experience in private equity, special situations and distressed asset transactions. Diantha Ho is another key figure at counsel level, while managing associate Kenneth Kong is ‘commercial and hardworking‘ and a central lawyer in the team.

Milbank has cemented its position at the forefront of restructurings and insolvencies across Southeast Asia and the broader Asia Pacific region. Financial restructuring specialist Nicholas Dunstone, who joined the firm in 2023, has brought a stronger emphasis on representing funds, including private equity, hedge and private credit funds. Dunstone now splits his time between Singapore and London, and has a major focus on Asia Pacific, including Japan and South Korea. David Zemans (Singapore managing partner and Asia head), Jacqueline Chan and Giles Kennedy continue to bring outstanding corporate connections, providing a steady flow of debtor engagements, especially in Indonesia. Kennedy, in particular, has worked on a series of major bond restructurings for Indonesian issuers in recent times. Distressed acquisitions is another area of expertise for the Singapore team.

A&O Shearman has a large team that has led a series of global mandates, collaborating with colleagues from around the world. The team is particularly known for representing banks and other lenders, building on the firm’s exceptional standing in banking and finance in Singapore and globally. It also advises debtors, funds and receivers/liquidators. English law partner Rishi Hindocha is a prominent restructuring and insolvency specialist with extensive experience in large-scale restructurings involving Asia Pacific businesses. Gautam Narasimhan provides further senior-level debt finance expertise in relation to restructurings. Senior associate Benjamin Foo is also highly rated.

Ashurst ADTLaw has a well established restructuring, insolvency and special situations practice in Singapore. Operating across Asia Pacific, the team has expanded its connections to Chinese corporates and financial institutions; it continues to have a strong record in matters linked to China, including the collapse of China’s real estate market. Robert Child, ‘a dream of a partner to work with’, is a well known figure in the market, having spent a number of years in Hong Kong before relocating to Singapore in 2020. Head of the Singapore banking team Jean Woo provides further connections to major banks, including as creditors in large-scale debt restructurings and insolvencies. Peter Madden, ‘an excellent hire’, joined the team as counsel from Gibson Dunn in February 2025. Senior associate Karan Puri is another key member of the department.

Baker McKenzie Wong & Leow has a large team of restructuring and insolvency experts, drawn primarily from its dispute resolution and banking and finance teams. The group frequently advises debtors, financial institutions and a number of accountancy firms. The firm has experienced further growth in engagements from private credit funds and is increasingly active in the special situations market. The Singapore-based team works closely with colleagues from across Asia Pacific and other global offices. Dispute resolution specialists such as Asia Pacific dispute resolution head Nandakumar Ponniya and Emmanuel Chua are noted for cross-border contentious restructurings and insolvencies. The team is able to advise on Singapore law and has rights of audience before the Singapore courts. Chair of the global financial institutions group and head of finance and projects in Singapore, Emmanuel Hadjidakis has a background in creditor-side restructuring matters.

DLA Piper has emerged as a credible force in the Singapore restructuring and insolvency segment. With the promotion of Jared Green to the partnership in May 2024, the firm has cemented its position in the market with an especially strong record in acting for liquidators and administrators in significant insolvencies, along with a presence in bank-led restructurings and the wider spectrum of distressed work. The Singapore team is particularly active in the energy, healthcare, pharmaceutical, telecoms and financial services sectors. It works closely with colleagues in Sydney and Hong Kong on wider Asia Pacific and global engagements, especially global co-chair of restructuring Naomi Moore in Sydney. In Singapore, Wei Hong Wong is another senior restructuring and insolvency specialist.

Gibson Dunn has a major presence in debtor-side engagements across Southeast Asia. The firm is also active in creditor-led restructurings and enforcements, along with representing judicial managers, administrators and liquidators in large scale matters. The Singapore team frequently works alongside colleagues in other international offices, including US debt capital markets specialists, on global restructurings. Indonesia has long been a key jurisdiction for the team, and energy and infrastructure, finance and crypto are key sectors. Special situations and distressed investing is another forte for the Singapore office.  Jamie Thomas leads the banking and finance and the restructuring and insolvency teams in Singapore; he continues to land many of the prime engagements in the market.

Providing ‘strategic clarity, technical excellence, and strong cross-border capabilities’, Hogan Lovells Lee & Lee has a solid background in debt restructurings, distressed M&A and court driven insolvency processes. The firm represents a variety of clients in this sector, including debtors, creditors and funds. Nick Williams heads the litigation and arbitration team in Singapore, and has an extensive record in restructuring and insolvency. Senior associate Koh Wei Lun is a restructuring and insolvency specialist. The Singapore team frequently works alongside the Hong Kong restructuring and insolvency group led by Jonathan Leitch. Former counsel Carol Hartopp Hall has left the firm.

King & Spalding LLP‘s restructuring and insolvency practice stems from its highly-rated finance practice led by ‘experienced partner‘ Andrew Brereton. The team have built strong connections to private credit funds, special situations investors and other financial institutions. It now handles a significant flow of restructuring and special situation matters across Southeast Asia and the broader Asia Pacific region. The team is also known for debtor-in-possession financings. U-Glen Lim provides additional support at senior associate level.

Mishcon de Reya LLP has a major focus on the Indonesian market, primarily representing debtors. It handles court-supervised restructurings, including PKPU proceedings in Indonesia, along with out-of-court consensual arrangements with creditors. Typical engagements involve simultaneous restructuring of syndicated bank loans and international bonds; it advised PT Bakrie Sumatera Plantations on its out of court restructuring of a syndicated bank loan and equity linked notes. The Singapore team also collaborates with London colleagues on insolvencies and cross-border disputes stemming from financial distress. Head of Asia and Singapore managing partner, Tahirah Ara specialises in restructurings in Southeast Asia, especially Indonesia. Special counsel Lawrence Altman has more than 20 years’ experience in debt restructurings.

Norton Rose Fulbright‘s Singapore restructuring and insolvency practice brings together a multidisciplinary team, primarily driven by finance and disputes lawyers. The group also benefits from the firm’s Formal Law Alliance (FLA) with Ascendant Legal LLC, enabling it to deliver international and Singapore law advice, along with representation in the Singapore courts. The team has an especially strong record in the financial institutions, shipping, aviation, commodities and energy sectors. Head of the Singapore office, Yu-En Ong is an immensely experienced finance lawyer with a solid background in restructuring and insolvency matters. Ascendant Legal LLC‘s Meiyen Tan is a dedicated restructuring and insolvency specialist, while Kei-Jin Chew provides further expertise in disputes linked to insolvencies and distressed situations.

Rimon Law has emerged as a significant player in the market thanks to the arrival of ‘go-to restructuring lawyer‘ Troy Doyle in April 2024, former co-chair of the global business restructuring and reorganisation practice at Gibson Dunn. The Singapore team covers the entire Asia Pacific region, including Singapore, Indonesia, Vietnam, China, India, Taiwan, Japan, Thailand, Philippines and Australia. It is particularly known for representing debtors (including large family conglomerates), insolvency practitioners and turnaround professionals, while it also advises hedge funds, private equity funds and financial institutions. Distressed investing and debt trading also form part of the practice. Energy and infrastructure are key sectors for the team.

Stephenson Harwood LLP stands out for its experience in restructurings and insolvencies in the transportation and offshore sectors. With a major focus on creditors, it has advised a number of banking clients on a series of recent workouts, restructurings and enforcements of shipping finance transactions. The firm is also noted for advising creditors in funding sales, shipping losses and enforcement rights when insolvencies arise. It has represented creditors in two of the largest insolvency cases in Singapore; Agritrade International and Hin Leong Trading/Ocean Tankers. The firm also has a significant market share of maritime sector restructurings in Southeast Asia and has seen further growth in aviation industry restructurings. Gregg Johnston is a leader in shipping and offshore financings, which frequently leads to engagements in restructuring and workouts, loan portfolio sales and enforcement work. Huay Yee Kwan focuses on representing PRC lessors in the restructuring and insolvency arena. Michelle Yong and Pedram Norton provide further expertise in maritime, trade and offshore restructurings and insolvencies.