Corporate & Commercial
Restructure & Insolvency
Corporate restructuring, debt workouts and formal insolvency — in a jurisdiction whose bankruptcy statute the firm helped draft.
The Bankruptcy Act 1997, the Artha Rin Adalat Ain 2003 and the winding-up provisions of the Companies Act 1994 together form Bangladesh's insolvency architecture. Enforcement timelines are long, which makes consensual restructuring the better commercial answer in most cases — but only if the alternative is credibly priced.
Our partners were involved in drafting the Bankruptcy Act 1997 as part of the World Bank's Financial Sector Reform Programme, and the practice has advised lenders, borrowers and investors on workouts, security enforcement, scheme-based reorganisations and liquidation since.
How we help
- Debt restructuring and standstill arrangements
- Security enforcement and Artha Rin Adalat proceedings
- Schemes of arrangement, amalgamation and reconstruction
- Winding-up petitions and defence; liquidation support
- Distressed acquisitions and loan portfolio transfers
- Directors' duties and exposure in the zone of insolvency
Representative matters
- Drafted the Bankruptcy Act 1997 under the World Bank Financial Sector Reform Programme.
Mandates in this practice
The World Bank · Lead local counsel
Financial Sector Reform Programme — redesign of the banking regulatory framework, and drafting of the Bankruptcy Act 1997
Wilmington Trust · Creditors' counsel
Judgment against an air operator and eleven affiliates