Tough Times Ahead? What Banks and Creditors Need to Know about Myanmar’s New Legal Framework for Insolvency and Winding Up (Webinar)
Debt restructuring has sadly become very common in Southeast Asia due to the COVID-19 Pandemic. Myanmar’s new Insolvency Law and regulations were issued right at the onset of the health crisis which quickly spawned an economic downturn for various industry sectors in Myanmar. So, borrowers and debtors can now avail themselves of an entirely new set of laws and rules to delay enforcement proceedings by banks and other creditors. How are claims affected by these untested new procedures? Can you no longer select the liquidator of your choice, even in a solvent winding up?
Get to the point with VDB Loi’s experienced legal experts on the impact of Myanmar’s new insolvency system in this unique webinar.
- In which case are borrowers allowed to delay enforcement of claims;by banks or other creditors under the new Insolvency Law?
- Which secured interests exist in Myanmar and how are they affected by the new law?
- Can a bank holding security such as a mortgage or a pledge be legally stopped from executing on those secured assets?
- Cram down: How can a “rehabilitation plan” be binding on a creditor who voted against the plan?
- Who takes charge of the company in a rehabilitation or in a winding up?;
- Can the company or the court appoint the person who will decide everything during liquidation of a company?
- Doe every liquidation now require court intervention?
- The new priority ranking for debts and claims
- Which are the brand new events and transactions prior to insolvency which can be clawed back? And how far can they go back?
|1:00 pm to 1:45 pm||Presentation|
|Q1:45 pm to 2:00 pm||Q&A|
Edwin is the senior partner of VDB Loi and a leading foreign legal advisor living in Myanmar since 2012. A frequent advisor to the Government on transactions and privatizations in energy, transportation and telecom, he is widely recognized for his “vast knowledge” (Legal 500) and his ability “to get difficult things through the bureaucracy ” (Chambers, 2016). He advises international financial institutions on their largest Myanmar transactions, oil and gas supermajors, a greenfield multi- billion US$ telecom project and the Japanese Government on the Thilawa SEZ. He assisted two newly licensed foreign banks setup in Myanmar, acted for the sponsor of an 800MUS$ urban infrastructure PPP project and worked on 6 out of 7 power deals inked in 2016.
Maxim is counsel with VDB Loi finance team. His practice focuses on cross-border and local project financings, corporate loans, pre-export facilities and restructurings. Maxim advises both borrowers and lenders, commercial banks, corporations and development institutions with particular focus on complex projects in the banking, infrastructure, oil & gas, mining and metals and manufacturing sectors and transactions in the emerging markets.
Register for the Event
June 11, 2020
Yangon: 1.00pm | Bangkok: 11.30pm | Singapore, Hong Kong, Malaysia: 2.30pm | Seoul, Tokyo: 3.30pm | London: 7.30am | Amsterdam, Paris: 8.30am | Duration: 1 hour
Live Webinar Event