The arrival of partner Ashok Kumar at TSMP Law Corporation in January 2011 indicates growing ambition in regard to the firm's restructuring and insolvency practice. Kumar, formerly head of restructuring and insolvency at Stamford Law, now leads the same area at TSMP....
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The arrival of partner Ashok Kumar at TSMP Law Corporation in January 2011 indicates growing ambition in regard to the firm's restructuring and insolvency practice. Kumar, formerly head of restructuring and insolvency at Stamford Law, now leads the same area at TSMP.
The firm has taken advantage of the recent instability of many S-chip companies, Chinese companies listed on the Singapore Exchange, and is participating in several restructuring cases. Kumar kept busy after he arrived at the firm, having advised UOB, the major lender to Nautical Offshore Services who are the principal shareholders of Jaya Holdings. He is also acting for a potential investor in PT Arpeni Pratama Ocean Line's restructuring of $60 to 70 million in bondholder debt.
Head of the firm's corporate practice, partner Stefanie Yuen Thio, is popular with clients for her ability to maintain relationships. "We make a point to have regular dialogue," a client says.
Thio advised a client in a S$170 million ($130 million) acquisition of a custom-built data centre for Digital Realty Trust, a specialised data real estate investment trust (Reit) listed in the US. Because the original developer of the data centre was in receivership and liquidation, the transaction required knowledge in insolvency and restructuring as well as expertise in US Reits.
On the capital markets front, director Benjamin Choo advised the issue manager and joint underwriters in the IPO of Dyna-Mac Holdings on the Mainboard of SGX-ST. The successful IPO had a market capitalisation of S$315 million.
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