is a counsel in the firm’s Hong Kong office and a member of the Transactions Department.
Damien specializes in cross-border and special situations financings, restructuring and insolvency. He has extensive experience of structuring and executing cross-border investments and advising creditors, debtors and insolvency officers on cross-border restructurings and insolvency proceedings throughout Europe and Asia.
Damien was identified as a Leading Individual for Restructuring and Insolvency in Chambers Asia
2011 and 2012. Chambers Asia
2012 says, “Damien Coles adds yet more strength to this impressive team and market sources predict that he is one to watch for the future. He is a technically strong and sensible lawyer.” IFLR1000
2013 deems him a “Rising Star” in the field and says, “Damien is an outstanding restructuring lawyer.”
Illustrative Professional Experience
Selected restructuring and insolvency experience includes representing:
- a group of offshore investors in relation to the restructuring of INR 6 billion fully convertible debentures issued by an Indian real estate company;
- a syndicate of secured lenders in connection with the restructuring of the US$2 billion indebtedness of PT Berlian Laju Tanker Tbk., a listed Indonesian shipping company;
- First Engineering Limited in relation to the restructuring of its indebtedness via a scheme of arrangement;
- Mobile-8 Telecom Finance Company BV, a wholly owned subsidiary of PT Mobile-8 Telecom Tbk, an Indonesian listed company, in connection with the restructuring of its US$100 million indebtedness via a UK scheme of arrangement;
- Deutsche Bank in relation to the restructuring of US$365 million fully convertible debentures issued by a leading Indian real estate company;
- a group of international creditors in connection with the Indonesian suspension of payments proceedings in respect of PT Kertas Nusantara, including the subsequent US$800 million Indonesian composition plan;
- the provisional liquidators of Celestial Nutrifoods Limited in relation to the international aspects of their appointment, including a successful application for cross-border recognition in Bermuda;
- the ad hoc bondholder committee on the restructuring of the US$160 million bonds issued by Arpeni Pratama Ocean Line Investment BV and guaranteed by PT Arpeni Pratama Ocean Line Tbk, a listed Indonesian shipping company;
- the core bondholder group on the restructuring of the US$325 million bonds issued by Blue Ocean Resources Pte. Ltd., a subsidiary of PT Central Proteinaprima Tbk. a listed Indonesian acquaculture company;
- the senior mezzanine bondholders on the restructuring of the US$525 million indebtedness of Mira International Holdings Pte. Ltd., the parent of PT Apexindo Duta Pratama Tbk., a major Indonesian offshore platform company;
- a majority bondholder group in relation to the defaulted US$150 million convertible bonds issued by China Milk Products Group Limited, a Cayman incorporated issuer, listed on the SGX, with operating assets in the PRC, and the subsequent appointment of Cayman Islands provisional liquidators; and
- ESCADA on the insolvent sale of its Hong Kong business and assets to the Mittal family.
Selected finance and special situations experience includes representing:
- Goldman Sachs Asia Special Situations Group and Citigroup Special Situations Group on the corporate restructuring of their investments in the Adaro group of operating companies in connection with the US$1.3 billion public offering of PT Adaro Energy Tbk., the largest initial public offering in Indonesia to date;
- the International Finance Corporation in connection with its US$70 million loan to PT Bank Tabungan Pensiunan Internasional, a major Indonesian commercial bank with expertise in the micro-financing sector; and
- the special situations group of a major international bank in connection with a US$50 million share-backed financing for an Indonesian listed company.
Insolvency Practitioners Association of Singapore, INSOL International
Leading Individual in Restructuring & Insolvency; Chambers Asia 2011