Our Restructuring and Insolvency Practice is a highly regarded practice that has consistently achieved Tier 1 ranking in Legal 500 and Tier 1 or Tier 2 ranking in all other major directories. Partners in the practice have also continuously received accolades from many reputable publications such as Chambers & Partners, Who’s Who Legal, Lexology, IFLR1000, and Benchmark Litigation amongst others. The practice is one of the longest standing dedicated restructuring and insolvency practices in Hong Kong and the only practice with two Legal 500 Hall of Fame entrants, being Ian De Witt and Robin Darton who between them have almost 60 years of experience practising in Hong Kong.
Our restructuring and insolvency lawyers have longstanding experience in advising on a broad spectrum of restructuring and insolvency matters including liquidations, receiverships, restructurings, and bankruptcies. The practice has a particular focus on contentious and court-related issues, including recovery actions arising out of corporate collapses, often based on fraud or breaches of fiduciary duty by former management.
We represent a diverse range of international clients involved in multi-jurisdictional and high-profile matters, members of the team having acted on almost every major restructuring or insolvency matter over the past 30 years, including assignments throughout the Asian Financial Crisis, SARS, the Global Financial Crisis and COVID.
Lawyers in the practice work with insolvency practitioners on a daily basis, including the teams from Alvarez & Marsal, BDO, Briscoe Wong, Deloitte, EY, Grant Thornton, Interpath, KPMG, Kroll, Perun, PwC, Teneo, and amongst others. We also regularly represent creditors, private equity and private capital funds, debtors, directors, shareholders, and bondholders. We cater to clients in Hong Kong, Mainland China, and throughout the Asia Pacific Region and have experience across a broad spectrum of industries, from real estate to retail and aviation to crypto.
Services
We advise and act on:
- Company restructurings and reorganisations, formal and informal, including schemes of arrangement
- Contentious and non-contentious issues within insolvency administrations, acting for most Hong Kong insolvency practitioners
- Insolvency procedures in Hong Kong and cross-border jurisdictional issues, including recognition and assistance for office-holders appointed outside of Hong Kong
- Solvent restructurings
- Winding-up proceedings, appointment of provisional liquidators and advising provisional liquidators in undertaking their duties
- Receiverships, whether appointed pursuant to security or court-appointed
- Enforcement of security generally and advising on all forms of security and enforcement, including in respect of bonds and notes issued in the debt market
- Issues arising from distressed debt and special situations
- Directors’ duties and actions against directors for breach of such duties
- Fraud and asset tracing and recovery arising out of corporate collapses, including injunctive relief and disclosure applications
- Bankruptcy, for debtors and trustees in bankruptcy
- Debt collection
Experience
- Acting for the liquidators of China Evergrande Group, the collapsed PRC real estate developer, Hong Kong’s largest ever liquidation
- Acting for the provisional liquidators of Global Cord Blood Corporation, the first cord blood bank operator approved by the Chinese Ministry of Health, and assisting the provisional liquidators in investigating a multitude of unauthorised transactions and taking action to recover assets
- Advising Party City, the world’s largest retailer of party goods which boasted 850 outlets across more than 70 countries and employed over 12,000 people, in connection with winding down operations in Hong Kong, the PRC, Mauritius and Madagascar after the collapse of its joint venture partner, subsequently also acting in connection with its restructuring via a chapter 11 process and assisting liquidators of various Hong Kong-based subsidiaries
- Acting for Suning, one of China’s largest non-state-owned companies, in winding up proceedings arising from various disputes with Bain Capital and French supermarket chain Carrefour
- The team had long-running roles in respect of the Lehman Brothers collapse, advising the UK-based administrators of Lehman Brothers International Europe in respect of multiple issues arising in Hong Kong; then subsequently acting for the liquidators (from KPMG) of the 9 Hong Kong Lehman entities
- Acted for the trustees in bankruptcy of Guy Lam, whose bankruptcy led, through decisions of the Court of Final Appeal, to the development of Hong Kong law relating to the interplay between insolvency proceedings and arbitration. The team also successfully represented at the Court of Appeal the petitioner in But Ka Chon, a decision which also contributed to this development
- Acting for the largest aircraft leasing creditor in claims against one of Asia’s largest commercial airlines, Hong Kong Airlines, which ultimately resulted in a successful restructuring
- Acting for the liquidators of China City Construction (International) Co., Limited, a company which collapsed following default on RMB 2.5 billion bonds issued by it, including complex fraud litigation regarding the misappropriation of US real estate assets valued at over US$100 million and the subsequent dissipation of sales proceeds across a network of recipients
- Advised liquidators of derivatives brokerage MF Global, which included representation at hearings on novel, reported legal issues such as the ad valorem duty payable by provisional liquidators and the treatment of costs incurred by liquidators
- Advising a prominent commercial bank in Mainland China, a lender of a bilateral loan in excess of HK$230 million, in the US$5.6bn debt restructuring of Sino Ocean
- Acting for a South African-based specialist lender in connection with enforcement of security, through receivers, in respect of a broad group of businesses (ranging from pizza restaurants to fintech) in which a UK-based serial entrepreneur (now a bankrupt) had invested monies borrowed
- Acting in the liquidation of the China Fishery/Pacific Andes group through its US trustee in bankruptcy, with a fraud alleged to be in the sum of US$5.5 billion and resisting claims of over US$150 million
- Lead counsel for the debtor company on the complex 2016 restructuring of Kaisa Group‘s offshore debt amounting to over US$2.5bn
- Acting for the Singapore-based liquidators of Star Cruises Singapore entities, being part of the difficulties faced by Genting, the Malaysia-based gaming and resorts group
- Acting for the liquidators of BVI-based Bank of Asia, a digital bank facing difficulties resulting from shareholder disputes and concerns about ongoing viability
- Acting for the Singapore-based liquidators of a crypto lending and borrowing platform which collapsed in 2022 as a result of its extensive holdings in TerraUSD stablecoins, in relation to various Hong Kong related issues regarding its Hong Kong subsidiary
- Acted for the liquidators of Bridge Global Absolute Return Fund SPC in obtaining recognition and assistance from the Hong Kong court to permit the Cayman-based liquidators to further their investigations, Bridge Global being a channel employed by the fraudsters behind the 1MDB scandal
- Successfully acting in what is now a leading authority relating to unfair preference actions in a “non-associate” case where the firm acted for the liquidators of Sweetmart Garments against a receiver holding the proceeds of certain assets that were transferred to the company’s bankers
- Acting for provisional liquidators of Hong Kong-listed Natural Dairy in various complex fraud and breach of duty claims (HK$3bn) against former management of the company arising out of failed transactions to purchase extensive dairy farms in New Zealand
- Acted for China Cinda (one of PRC’s largest asset management companies) on the successful restructuring of significant debt relating to a valuable hotel property in Hong Kong
- Acting for China Singyes Solar on contentious elements arising in the restructuring of its debt in excess of US$500 million, including opposing a winding up petition and obtaining a validation order to pay operational and restructuring costs
- Advising the Bermuda-based provisional liquidators of Vesttoo, a fintech reinsurance business which collapsed in 2023 on the revelation that letters of credit (with a face value of over US$4 billion) supposedly backing the business were fraudulent
- Acting for the BVI-based liquidators of Green Elite Limited, a company incorporated to hold pre-IPO shares in a metals trading business, and which was subsequently wound-up after substantial sums were syphoned off by a director, leading to judgment in the BVI (upheld by the Privy Council) and disclosure and enforcement actions in Hong Kong
- Acted for a distressed debt trading firm in its dispute with a purchaser of debt resulting in successful enforcement proceedings via arbitral proceedings and subsequent contempt proceedings against a receiver who had dissipated assets in breach of undertakings given to the court
- Acting for Firestar International Limited, a company linked to Nirav Modi and his diamond and jewellery empire, in various cross-border insolvency issues
- The firm played a pivotal role in connection with the appointment of provisional liquidators to Oasis Hong Kong Airlines (a long-haul budget airline) and then acted for the provisional liquidators in all aspects of this multi-faceted administration, which presented a number of unique challenges given the international scope of the Oasis business and the high-profile nature of the collapse
- Acted for liquidators of the Hong Kong arm of OW Bunker Group, then Denmark’s second largest company, advising on numerous issues associated with its insolvency proceedings which spanned multiple jurisdictions
- Advised on the Hong Kong law aspects arising from the collapse of Brooks Brothers
- Acting for the liquidators of Kindever, an entity holding valuable real estate on The Peak in Hong Kong, ultimately having been held by Carson Yeung, the infamous former hairdresser-turned-owner-of-Birmingham City Football Club
- Acting for world-renowned Italian car designer Pininfarina in winding-up proceedings against a former Hong Kong EV startup
- Acting for a well-known bank in respect of the cross border winding up of Trinity Limited and its key subsidiaries, which held the intellectual property rights to a number of household-name luxury product brands
- Acting in the liquidation of STX Pan Ocean (Hong Kong) Co., Limited, a company owned by Korea’s largest dry bulk carrier Pan Ocean Korea
- Acting for the liquidators of Hong Kong entities in a group headed by DMX Technologies, then listed on the Singapore Stock Exchange, which failed as a result of fraudulent accounting practices
- Assisting a well-known US-based international firm with Hong Kong law aspects arising from debt issued by Lycra
- Acted for a director of Moulin Global Eyecare, a substantial Hong Kong-listed company which collapsed after a fraud of some HK$4.5 billion perpetrated on the company’s bankers (for which a number of the company’s executives were jailed). We successfully defended the director for whom we acted, who was completely exonerated
- Acted for provisional liquidators of then-listed Burwill Holdings in promulgating a scheme to restructure its indebtedness
- Acting for the liquidators of Joint Silver Limited in a long-running global contentious shareholders’ dispute on various matters in relation to Hong Kong, including asset recovery and conversion applications
- Advising a US-based manufacturer of retail electronic products in connection with difficulties arising with its Hong Kong and PRC partners, concerning indebtedness of in excess of US$70 million
- Acting for SES, a Luxembourg communications satellite operator, in its successful opposition to a scheme proposed by Century Sun
Industries
Our work has involved restructuring and insolvency issues in respect of the many and varied industry sectors, including:
- Real estate
- Aviation
- Shipping
- Financial Services
- Retail
- Consultancy/Professional and advisory services
- Asset management
- Manufacturing
- Food and beverage
- Logistics
- Legal services
Accolades/Testimonials
“They’re really top of the profession when it comes to their knowledge and clients seem to be extremely happy.”
“Tanner De Witt are very strong and experienced in Hong Kong for restructuring work.”
“They’re really top of the profession when it comes to their knowledge and clients seem to be extremely happy.”
Chambers and Partners Greater China 2025
Restructuring/Insolvency (International Firms) ranked Band 2
“The TDW team runs a practice with the deepest knowledge in insolvency in HK. They are able to provide advice in real time, which only very few lawyers in HK are able to do.”
“TDW is the preeminent boutique firm in the market and is widely noted for its restructuring and insolvency practice. They have a massive depth of experience and are one of the few firms with real expertise on personal bankruptcy matters.”
“A great team to work with on both a professional and personal level. Always available to discuss any issues and very flexible in their approach. Sunny Hathiramani, Tim Au and Troy Greig are all highly regarded.”
“Tanner de Witt’s team blends an array of backgrounds and skill sets to combine into a strong, independent law firm that is firmly established as the leading Hong Kong law firm providing fast, effective and reliable advice.”
“A deep bench of individuals who are very good at what they do, are approachable and are conflict free.”
Legal 500 Asia Pacific Guide – Greater China 2024
Restructuring & Insolvency ranked Tier 1
“Tanner De Witt is a big team and able to deploy team members in larger situations.”
“Excellent problem solvers.”
“Robin has buckets of experience and is technically strong.”
“Ian De Witt is commercial, approachable and a fountain of knowledge in Hong Kong law and procedure.”
Robin knows very well how things work in the Hong Kong market, and what you need, be it legal advice or strategy.”
Chambers and Partners Greater China 2023
Restructuring/Insolvency (International Firms) ranked Band 2
“When it comes to insolvency, TDW is really the best in town. They have probably forgotten more about insolvency than most know. Truly excellent in terms of knowledge, approach and service to clients. Could not recommend them more highly.”
“Tanner De Witt is a leading restructuring and insolvency law firm in Hong Kong. Their partners are trustworthy and always consider issues from different perspectives.”
“Independent HK law firm with incredible depth of experience and packing a punch if not leading the pack amongst the international firms in the same area.”
“Very knowledgeable about the insolvency landscape in Hong Kong. One of the most sure-footed insolvency firms in Hong Kong.”
“An independent local practise focused on insolvency/restructuring situations. Whilst being a local practise, the size and spectrum of its team should rank ahead of many international firms.”
“Sunny Hathiramani and Veronica Chan are well connected in the Hong Kong market and add supporting firepower.”
“Deep bench of talented and commercial lawyers led by Ian De Witt and Robin Darton. The firm offers seamless service with pragmatic and strategic advice.”
“Ian de Witt and Robin Darton provide a very desirable mix of prior international law firm experience and working in a local team that has operated successfully in Hong Kong for many years, combining local knowledge with cross-border expertise.”
Legal 500 Asia Pacific Guide – Greater China 2023
Restructuring & Insolvency ranked Tier 1
“Ian De Witt is considered a top name for commercial litigation and insolvency matters including debt recovery.”
“With over two decades of experience, Robin Darton impresses market experts with his first-rate practice focusing on contentious insolvency and restructuring issues.”
Who’s Who Legal (WWL) 2022
National Guide – Mainland China & Hong Kong SAR
Regularly referred work by international law firms and also benefiting from deeply entrenched relationships with local IPs and officeholders, independent domestic firm Tanner De Witt regularly advises creditors and debtors on purely Hong Kong-related matters, as well as on the local law issues associated with regional/international restructurings/insolvency.
Co-headed by the ‘user-friendly and cost-conscious Ian De Witt and Robin Darton, although the firm is also active in consensual out-of-court restructuring matters (including an increasing amount of restructuring work relating to Hong Kong-listed companies), it is undoubtedly best-known for its contentious insolvency advice, including work relating to fraud and asset tracing, and claims against auditors. Sunny Hathiramani is also recommended.
Legal 500 Asia Pacific Guide 2021
Well-established independent Hong Kong firm with a strong reputation, particularly in relation to high-stakes contentious insolvency cases. Regularly handles complex domestic litigations. Clients include distressed companies and liquidators. Also, able to handle cross-border Hong Kong–Mainland China restructurings, as well as non-contentious matters.
One source considers the team a “good outfit that works well to get deals done,” while a second notes that the team is “very active in the market.”
Advised KPMG as the liquidators of the collapsed China City Construction International.
Ian De Witt is widely respected as a market leader with “a really good reputation” for complex insolvency matters. His deep expertise spans both the advisory and contentious aspects of restructuring and insolvency-related work.
Robin Darton is a highly regarded authority on international insolvency and liquidation matters. One market source describes him as “a good guy who is well respected,” while a second commentator calls him “a really highly regarded insolvency practitioner.”
Chambers and Partners Asia 2021
“Having a thorough knowledge of the law is a basic requirement, but it is [Tanner De Witt’s] commercial, reasonable, and proactive approach that cements them in the market”
“Ian De Witt and Robin Darton are the standout practitioners in this sphere, but I would like to mention that they have a solid bench of senior and junior lawyers in the team so if for any reason Ian or Robin are unavailable you can be assured of the same level of service from each member of their team.”
“excellent work” with a “strong bench”
“Ian De Witt and Robin Darton are both excellent lawyers and problem solvers.”
Global Restructuring Review’s GRR100 2021
Awards and Rankings
Benchmark Litigation 2025
- Insolvency ranked Tier 1
The Chambers and Partners Greater China Region 2025
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- Restructuring/Insolvency (International Firms) (Band 2) ranked for 15 years
The Chambers and Partners Greater China Region 2024
- Restructuring/Insolvency (International Firms) (Band 2) ranked for 14 years
The Legal 500 2024
- Restructuring/Insolvency Tier 1 ranked for 14 years
Who’s Who Legal (WWL) 2023
- Ian De Witt and Robin Darton rank as Thought Leaders in Restructuring and Insolvency and are recommended as Global Leaders
Global Restructuring Review 2023
- Veronica Chan awarded as a “junior” woman under the age of 40 who is a name to watch in the future
The Chambers and Partners Greater China Region 2023
- Restructuring/Insolvency (International Firms) (Band 2)
The Legal 500 2023
- Recommended restructuring and insolvency
- Sunny Hathiramani is listed as a next-generation partner for our top-tier Restructuring and Insolvency Practice
Who’s Who Legal (WWL) 2022
- Ian De Witt, Robin Darton and Jeff Lane are listed in the 2022 edition of Who’s Who Legal (WWL) as Global Thought Leaders in Restructuring and insolvency
Global Restructuring Review’s GRR100 2021
- Restructuring and Insolvency practice listed in the Global Restructuring Review’s GRR100 2021 compilation of the world’s leading law firms for cross-border restructuring and insolvency matters
Insights and News
News
Tanner De Witt promotes three solicitors
Insights
Tanner De Witt successfully defends appeal in relation to ownership of the subsidiaries of the Global Cord Blood Corporation group
Insights
Directors guilty of fraudulent trading
Insights
Must a foreign judgment be registered before being relied on as a petitioning debt?
Insights
Legal Update: Anti-Suit Injunction restraining a Defendant in a Hong Kong Court action from continuing proceedings it commenced in the People’s Court of Beijing
Insights
5 Impactful R&I Cases from 2024
Insights
Legal Update: Recognition Order Granted notwithstanding SFC’s Restrictive Notice and Police’s Letter of No Consent
Insights
Stop resisting! Solicitors must deliver up the client files of its former insolvent client to the liquidators.
Insights
A “one stop” recognition order requiring non-responsive third parties to comply
Insights