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Sushil Nair

Deputy CEO, Drew & Napier LLC

Co-Head, Corporate Restructuring & Workouts / Indonesia Group

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Practice Areas

Qualifications

  • LL.B. (Hons), National University of Singapore (1989)
  • Admitted to the Singapore Bar (1990)
  • Solicitor, England & Wales (1996)
Overview

Named Singapore’s Restructuring Lawyer of the Year for 2019 by Best Lawyers, Sushil is the Deputy Chief Executive Officer of Drew & Napier and also heads up its Corporate Restructuring & Workout practice group. Sushil has been in practice for some 30 years, with the majority of that time focused on restructuring.  Sushil’s practice is focused on the Asia Pacific region, with much of it revolving around Indonesia and China, where he has been involved in some of the largest restructuring exercises in Asia.

Sushil chairs the Insolvency Sub Committee of the Law Society of Singapore and is a member of the Insolvency Law Review Committee set up by Singapore’s Minister for Law, which recommended substantial changes to Singapore's insolvency laws. He is also a member of the Committee to Strengthen Singapore as an International Centre for Debt Restructuring, also set up by the Ministry of Law. 

Sushil has handled a number of significant cross border restructuring exercises. Here are just a few:

  1. Asia Pulp & Paper Co Ltd - Sushil was the firm’s lead partner in the US$ 16 billion restructuring exercise of this multi jurisdictional conglomerate, one of the largest exercises of its kind in the world. The exercise involved some 150 subsidiaries worldwide, including in Indonesia, China, Europe and the USA.
  1. PT Berlian Laju Tanker Tbk - Sushil is the firm’s lead partner acting in the US$2.6 billion restructuring exercise of this leading worldwide seaborne liquid cargo transportation specialist, which is the only company listed on both the Singapore and Jakarta Stock Exchanges. It is the largest restructuring exercise in Indonesia for some years. The exercise has involved Court applications in Indonesia, Singapore and the USA. In Indonesia, the company’s debt composition proposal has been approved by the Indonesian Courts with the approval of the vast majority of its creditors, both international and domestic. This deal has been awarded Asian-MENA Counsel: Deal of the Year – Honourable Mention and IFLR Asia Awards 2016: Restructuring Deal of the Year.
  1. Ezra Group - Sushil led the team representing Ezra Holdings Limited on its US$1.49 billion cross-border debt restructuring involving a restructuring under the Chapter 11 of the US Bankruptcy Code, which is to be followed by judicial management under Section 227 of the Singapore Companies Act. On 18 October 2018, the United States Bankruptcy Court for the Southern District of New York entered an order confirming the restructuring plan under Chapter 11 of the US Bankruptcy Code which subsequently went effective on 31 December 2018. In 2018, the Singapore High Court approved Ezra Holdings’ application for a cross-border protocol between Singapore court and the US Bankruptcy Court in relation to its bankruptcy proceedings—the first restructuring which applies the cross-border protocol adopted by the Singapore Supreme Court under the Judicial Insolvency Network initiative introduced in October 2016.
  1. Nam Cheong Group - Sushil led the team representing Nam Cheong Group on its US$1.35 billion debt restructuring, including US$240 million bonds issued and listed on the Singapore Exchange. Nam Cheong’s core business is the construction and supply of offshore support vessels used in the offshore oil and gas exploration and production and oilfield services industries. Nam Cheong owns shipbuilding facilities in Malaysia and also outsourced the constructions of vessels to yards in the People’s Republic of China. Nam Cheong Group also has a vessel chartering business with a fleet of 15 vessels. Nam Cheong Limited is listed on the Singapore Exchange and various subsidiaries incorporated in Malaysia.

Chambers Asia-Pacific
Restructuring/Insolvency 2019 – Band 1 for 12 consecutive years

Sushil Nair is "highly regarded, top of the game." He is praised as being a "practical, outside-the-box lawyer," as well as "sensible, responsive and approachable." He has experience on a plethora of high-stakes insolvencies. 

"He has very good negotiation skills and is able to work through issues and provide solutions." 

A client describes Sushil as "an excellent lawyer: strategic, thoughtful and a problem solver." Impressed sources note that Sushil  offers "sound advice that addresses and resolves various difficult issues."

"Very responsive and extremely commercial."

Asia Pacific Legal 500
Restructuring & Insolvency 2019 – Leading Individual for 6 consecutive years

Sushil Nair is "outstanding in developing and implementing effective and creative strategies that have produced successful debt restructurings in circumstances that seemed hopeless at the start".

Who’s Who Legal
Insolvency & Restructuring 2019 – Leading lawyer for 11 years
Also identified as Thought Leader for Insolvency & Restructuring in 2018

IFLR1000: The Guide to the World’s Leading Financial Law Firms
Restructuring & Insolvency  2019 – Highly regarded for 2 consecutive years
Leading lawyer for 7 consecutive years from 2011 to 2017

A client regarded Sushil as “extremely intelligent”, “hard-working” and “creative”.

Best Lawyers International: Singapore
Insolvency and Reorganisation Law 2019 – Endorsed lawyer for 12 consecutive years
Insolvency and Reorganisation Law Singapore Lawyer of the Year 2010 and 2019

Asialaw Leading Lawyers
Restructuring & Insolvency 2018 – Market-Leading Lawyer

Benchmark Litigation Asia-Pacific
Insolvency 2018 – Dispute Resolution Star

Practical Law Company Which Lawyer? 
Restructuring & Insolvency 2012 – Endorsed Individual for 5 consecutive years

  • Member, Singapore Accountancy Commission Board
  • Member, Insolvency Law Review Committee set up by the Minister of Law
  • Chairman, Insolvency Committee of the Law Society of Singapore
  • Member, Advocacy Committee of the Law Society of Singapore
  • Member, Law Society of Singapore
  • Member, Singapore Academy of Law
  • Member, Board of Trustees, KK Women's & Children’s Hospital Health Endowment Fund
  • Member, Board of Directors of the Insolvency Practitioners Association of Singapore