Singapore
AWARDS
Leading individual for Restructuring and insolvency: Singapore
Next generation partner for Restructuring and insolvency: Singapore
Recommended lawyer for Dispute resolution: Singapore and Shipping: Singapore
Lauren Tang
Managing partner
Lauren is the managing partner at Virtus Law and is an experienced commercial litigator with a focus on restructuring and insolvency.
Her highlights include advising and assisting one of the first foreign companies in successfully obtaining a scheme moratorium after the 2017 amendments to the Singapore Companies Act (Cap.50) (which resulted in the first reported judgment on the requirements of a scheme moratorium); representing a major secured lender on the collapse of a well-known Singapore oil trader (Hin Leong Trading); advising on one of the first pre-pack schemes approved under section 71 of Singapore’s Insolvency, Restructuring and Dissolution Act since it came into effect in July 2020; and acting for the agent bank of a syndicate of banks in the restructuring of the obligations of a business trust through the placing of its trustee manager under a scheme of arrangement, which was the first of its kind. She has also acted for a global freight forwarder in a complex Singapore High Court matter involving allegations of breach of duty of care; acted for a Singapore public listed company and its subsidiary in a complicated vessel-related dispute and successfully obtained urgent interim relief for a cryptocurrency user against a wallet services provider.
Lauren has appeared at all levels of the Singapore courts, including the Court of Appeal and also has been involved in SIAC/ HKIAC / LMAA arbitrations. Lauren is qualified in practise in Singapore and England & Wales.
She is a member of the Singapore Law Society and is a member of the Singapore Law Society’s Insolvency Practice Committee 2023. She is also an Honorary Member of the International Women’s Insolvency and Restructuring Confederation (Singapore).
She was recognised by Global Restructuring Review (GRR) in ‘Names to know in Singapore’ in June 2018 (click here for details) and further recognised by Asian Legal Business in their “40 under 40” 2021 list and as a finalist of the Women in Law Awards 2021.
“Lauren Tang is well-versed in schemes. She has good technical skills and is easy to work with.”
The Legal 500 Asia Pacific 2024
Restructuring and insolvency
Skaugen
Advising and assisting the Skaugen Group to apply in Singapore for protection under the s. 211B scheme moratorium regime. This resulted in the first reported Singapore court judgment (Re IM Skaugen SE and other matters [2018] SGHC 259) on the requirements of a scheme moratorium.
Pacific Radiance Group
Acting for a financial institutional (secured) lender in respect of the scheme moratoria applications by Pacific Radiance Limited and Pacific Crest Pte Ltd made in 2018 and successfully obtaining a carve-out of the lender’s secured assets from the moratoria orders.
FSL Trust Management Pte Ltd
Acting for the Agent bank of a syndicate of banks in respect of a scheme of arrangement application made by FSL Trust Management Pte Ltd, which was the first case seeking to restructure the obligations of a business trust through the placing of its trustee manager under a scheme of arrangement.
EMAS Group
Acting for and advising creditors against EMAS-AMC Pte Ltd (part of the EMAS Chiyoda Subsea Limited group undergoing restructuring under Chapter 11 of the US Bankruptcy Code) regarding a stay order granted in Singapore and also acting for creditors against EMAS-AMC AS.
Swiber
Acting for creditors against a well-known offshore construction and support services provider undergoing judicial management in Singapore.
MF Global
Acting for the liquidators in the liquidation of a financial brokerage (Singapore office) resulting from the filing of Chapter 11 bankruptcy by its ultimate parent company in the United States.
Lehman Brothers
Acting for an established financial institution against customer claims concerning structured products, following the filing of Chapter 11 bankruptcy by its ultimate parent company in the United States.
Hin Leong Trading
Advising and acting for a major secured lender on the collapse of a well-known Singapore oil trader (Hin Leong Trading), its related vessel ownership group (Xihe Holdings) and its related bareboat charterer (Ocean Tankers), with an exposure of well over US$500 million. This matter has been the subject of headline news in Singapore and in international industry press, with allegations of fraudulent trading, and is one of the largest debt restructuring exercises in Singapore.
iflix
Advising the iflix group on its group restructuring and securing one of the first pre-pack schemes under Singapore’s Insolvency, Restructuring and Dissolution Act (No. 40 of 2018) since it came into force on 30 July 2020.
Marine and international trade
Charterers
Acting for charterer and guarantor in a dispute concerning an allegedly unseaworthy vessel in back-to-back charterparties. This matter spanned multiple actions in court and arbitration. For court actions, they included an injunction application against the owners to restrain winding up, defending owners’ claim against the guarantor and winding up application against the sub-charterer. These were in conjunction with two back-to-back LMAA arbitrations between the owners, charterers and sub-charterers.
Ship managers
Advising ship manager in reaching a settlement with ship owners in respect of disputes involving a South Africa vessel arrest.
Charterers
Advising charterer on various claims made by cargo interests and ship owners in a matter involving lost cargo at sea.
Freight forwarders
Acting for a freight forwarder in a claim for services provided to a customer.
Commercial litigation
Financial institutions
Acting for financial institutions against claims of misrepresentations and failure in performing statutory obligations. Also acting for liquidators of an established financial brokerage in Singapore.
Charterers
Obtaining an injunction restraining the ship owner/beneficiary from calling on a bank guarantee.
Freight forwarders
Defending against a claim by an introducer for alleged commission.
Shipping
Hin Leong Trading
Advising and acting for a major secured lender on the collapse of a well-known Singapore oil trader (Hin Leong Trading), its related vessel ownership group (Xihe Holdings) and its related bareboat charterer (Ocean Tankers), with an exposure of well over US$500 million. This matter has been the subject of headline news in Singapore and in international industry press, with allegations of fraudulent trading, and is one of the largest debt restructuring exercises in Singapore.
First Ship Lease Trust
Advising Bank of Tokyo Mitsubishi as agent of a fleet loan facility on the restructuring of the facility granted to First Ship Lease Trust (FSL Trust), a business trust listed on the SGX-ST, with approximately US$166 million remaining outstanding secured against FSL’s entire fleet of vessels through a Singapore scheme of arrangement (under the new Singapore scheme of arrangement regime). This was the first case seeking to restructure the obligations of a business trust through the placing of its trustee manager under a scheme of arrangement.
Skaugen
Advising and assisting the Skaugen Group to apply in Singapore for protection under the s. 211B scheme moratorium regime. This resulted in the first reported Singapore court judgment (Re IM Skaugen SE and other matters [2018] SGHC 259) on the requirements of a scheme moratorium.
Technology
iflix
Advising the iflix group on its group restructuring and securing one of the first pre-pack schemes under Singapore’s Insolvency, Restructuring and Dissolution Act (No. 40 of 2018) since it came into force on 30 July 2020.
Volatility Token Master Fund
Successfully acting for the client to obtain judgment against SealBlock Foundation Ltd in the Singapore High Court in a fintech dispute arising in connection to a Simple Agreement for Future Tokens. Also successfully acted for the client in a separate fintech dispute arising in connection with a Simple Agreement for Future Tokens and successfully obtained an arbitration award whereby the client was granted, amongst others, delivery up of cryptocurrency by the respondent distributor.
Cryptocurrency clients
Advising multiple clients on disputes arising in the cryptocurrency space, including issues of coin issuance agreements, fund management and investment and consultancy agreements.
AWARDS
Leading individual for Restructuring and insolvency: Singapore
Next generation partner for Restructuring and insolvency: Singapore
Recommended lawyer for Dispute resolution: Singapore and Shipping: Singapore