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Richard Woodworth

Partner

Hong Kong

Woodworth Richard
Richard Woodworth

Partner

Hong Kong

Richard is a partner currently based in Hong Kong and leads Allen & Overy’s Asia-Pacific restructuring practice. He advises creditors, borrowers, insolvency practitioners and other stakeholders on all aspects of financial restructurings and formal insolvency proceedings. He has advised on transactions throughout the region including Vietnam, Indonesia, PRC, Hong Kong, Japan, Korea, Singapore and many more.

Richard has advised on many landmark transactions, including many firsts for Asia. Recent highlights include advising the steering committee of lenders to Vinashin, Japanese shipper Sanko Steamship in dealing with its international creditors and the steering committee of creditors on the restructuring of Dubai World. Richard was the recipient of the inaugural IFLR Asia Restructuring ‘Rising Star’ award and he has received external recognition from all the independent legal guides.

News & insights

Publications: 27 JANUARY 2020

Updated Equator Principles Finalized

Updated Equator Principles with stronger standards and a broader scope were finalized in November 2019 and are set to come into effect in July 2020. 

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Singapore Legal Update - January 2020

Publications: 20 JANUARY 2020

MAS consultations on the regulation of digital payment tokens

The Monetary Authority of Singapore (MAS) has issued three new consultations each dealing with different aspects of the regulation of digital payment tokens (DPTs) under the Payment Services Act (PSA). It has also recently clarified that where a DPT may be characterized as either a debenture or as e-money, its policy approach will be to regulate it as e-money. Note that the PSA will come into force on 28 January 2020.

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Singapore company wound up in the U.S not allowed to block enforcement of charge over its shares

Publications: 20 JANUARY 2020

Singapore company wound up in the U.S not allowed to block enforcement of charge over its shares

In a recent case, the High Court had to consider whether to apply a moratorium to the enforcement of a share charge taken over the shares in a Singapore company where that company was subject to insolvency proceedings in the United States. It held that it had no basis to do so under section 259 of the Companies Act which renders void a transfer of shares in company made after the commencement of a winding up by the Singapore Court as that section did not apply to a foreign proceedings.

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Publications: 20 FEBRUARY 2018

Bank's obligations to give foreign insolvency officeholders access to information and assets - a clear distinction

On 7 February 2018, the Court of First Instance (CFI) published reasons for its decision in China Lumena New Materials Corp. 

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Expertise

Practices

Banking and Finance

Restructuring

Office

Hong Kong

Allen & Overy
9th Floor, Three Exchange Square, Central
Hong Kong

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Qualifications

Professional

Admitted as solicitor, Hong Kong, 2006

Admitted as solicitor, England and Wales, 2007

Academic

BA (Hons), Law, Churchill College, Cambridge University

PCLL, City University of Hong Kong