Ad hoc group of noteholders on the successful restructuring of over USD 16 billion offshore liabilities of Kaisa Group Holdings Ltd. (HKEx: 1638). This is one of Asia’s most significant and largest restructurings of Chinese property developers in the current sector-wide crisis, one of the largest schemes of arrangement by value ever sanctioned by the Hong Kong Court to date and the second successful restructuring of Kaisa following the first in 2016 which Kirkland also acted for the noteholders. This transaction was named “Restructuring and Insolvency Matter of the Year” by the Asia Legal Awards 2025 and “Deals of the Year 2024” by China Business Law Journal.
Ad hoc committee of offshore bondholders in a restructuring of around US$6.7 billion offshore bonds and perpetual securities issued by Yuzhou Group Holdings Company Limited. This transaction was named “Deals of the Year 2024” by China Business Law Journal.
Ad hoc committee of holders of the offshore notes issued by China Evergrande Group (HKSE: 3333) and its subsidiaries in connection with the restructuring of the offshore indebtedness in excess of US$39.9 billion which was intended to be implemented through inter-conditional schemes of arrangement of China Evergrande Group in Hong Kong and Cayman Islands and inter-conditional schemes of arrangement of Tianji Holding Limited and Scenery Journey Limited in Hong Kong and BVI respectively. This transaction was named “Restructuring and Insolvency Matter of the Year 2024” by ALM and “Deals of the Year 2024” by China Business Law Journal.
Ad hoc group of noteholders of Country Garden in connection with its offshore restructuring. Country Garden is one of the world’s most indebtedness real estate developers in the world with a highly complex capital structure, including US$10.55 billion offshore notes. This transaction was named “Deals of the Year 2024” by China Business Law Journal.
Eagle Investments Holdco in relation to the sale of the holding company of The LYCRA Company to a Chinese state-owned enterprise and its liability management in respect of its US$1.3 billion indebtedness.
Ad hoc group of holders of US$350 million zero coupon convertible bonds due 2026 issued by Tequ Mayflower Limited and guaranteed by Hope Education Group Co., Ltd. (now known as XJ International Holdings) in connection with any potential restructuring and/or enforcement actions.
Ad hoc group of noteholders of Jinke Property Group in connection with any potential restructuring and/or enforcement actions and navigating the PRC bankruptcy process.
Ad hoc committee of noteholders in a successful restructuring of the New York-law governed US$275 million senior notes issued by Hong Seng Limited and guaranteed by Hong Yang Group Company Limited, the controlling shareholder of Hong Kong-listed companies Redsun Properties Group Limited (HKSE: 1996) and Redsun Services Group Limited (HKSE: 1971).
Certain financial creditors of offshore affiliates of Suning.com Co. (SH: 002024) in connection with the restructuring of its financial indebtedness.
Bain Capital in relation to various portfolio investments.
