Insolvency Challenges and Opportunities of Out-of-Court Restructurings

Saturday, April 27
Location (Room)

Join us for a dynamic panel discussion focused on the strategic decision-making process relating to out-of-court restructurings. Our panel of experts will provide an overview of restructuring laws in various countries, highlighting the key factors influencing the choice between out-of-court and in-court options, including business size, creditor profile, capital structure, and risk nature. The panel will also discuss human resources considerations and share insights drawn from leading case law. This session promises a deep dive into the complexities of international restructuring, offering valuable comparative law perspectives for professionals in this evolving field.



David Ward

David Ward is a partner in the Restructuring & Insolvency and Commercial Litigation groups of Miller Thomson LLP. David has a litigation emphasis to his insolvency practice, with a focus on creditors’ rights and remedies in reorganizations and liquidations under Canada’s major insolvency and corporate statutes. Building on his extensive commercial litigation background, David has a significant experience advising a wide range of lenders and creditors on all aspects of commercial reorganizations in Canada. David’s practice on the Ontario Superior Court of Justice’s Commercial List is a significant component of his practice. Apart from insolvency matters, his expertise includes complex and time sensitive commercial disputes and other matters calling for quick court intervention, grants of interim and interlocutory relief, and ongoing case management. David was one of few outside experts invited to testify to the Senate Banking Trade and Commerce Committee in Ottawa on the reform of Canada’s insolvency legislation.

Over the years, he has been involved in numerous domestic and cross-border insolvencies where he has advised a wide range of stakeholders including secured creditors, debtors, and court-appointed insolvency representatives. David’s creditors’ remedies practice encompasses a broad range of specialties including real estate fraud, solicitor’s and appraiser’s negligence claims, shareholders disputes, investor fraud and injunctions.

David is an Adjunct Professor at the University of Toronto, teaching the International Insolvency Law segment of the University of Toronto’s Global Professional Master of Laws Program. He is also a prolific author and presenter on a range of topics of current interest, from creditors’ rights to bankruptcy reform.

Thought leadership

  • Co-author, “Focus on Canada”, Digitorney’s Crisis Navigator, April 8, 2020

Professional memberships

  • American Bar Association
  • Canadian Bar Association
  • International Insolvency Institute
  • Inter Pacific Bar Association
  • International Bar Association
  • Ontario Bar Association
  • Toronto Lawyers Association
  • Turnaround Management Association (TMA)

Bar admissions & education

  • Ontario Bar, 1992
  • LL.M., Osgoode Hall Law School, 2004
  • LL.B., University of Toronto, 1990
  • B.A., Western University, 1987



Ajay Bhargava

Ajay Bhargava is a Partner in the Dispute Resolution practice group in the Khaitan & Co LLP. In his areas of practice, Ajay has advised and represented matters in Supreme Court, High Courts, Arbitration (International and Domestic), Quasi Judicial Tribunals (National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT) and National Green Tribunal etc.). He advises on Constitutional matters, Civil & Criminal matters, IPR laws, Employment Laws and on corporate – commercial disputes. He also advises on matters before the Police Investigation Wings relating to corporate criminal investigations and quasi criminal prosecutions (white collar crimes). Ajay is often consulted on M&A transactions to provide tactical and advisory support. He advises on preventive measures in commercial contracts.

Ajay has been recognized and awarded Ranked as one of the Recommended and Key Lawyer- Dispute Resolution: Arbitration & Litigation in The Legal 500 Asia Pacific 2024 Rankings. Ajay is one of the India’s most recommended lawyers- Anti-corruption & anti-bribery; arbitration & ADR; bankruptcy & insolvency; litigation in the A-List of India Business Law Journal 2023-2024.

He is also amongst one of the Top Dispute Lawyers in India for 2023 in ALB 2023 Listings and has been ranked as a Leading Lawyer and Distinguished Practioner Dispute Resolution by Asialaw Profiles Leading Lawyers 2023 and by Legal Era Rankings 2023.

Ranked as one of the Asia’s Top 15 Litigators 2022 by Asian Legal Business and has also been recognised for his work and contributions by India Business Law Journal 2022-2023, Benchmark and Chambers & Partners in the Global Rankings 2023.



Heiko Wiechers

Heiko Wiechers is a corporate lawyer focussing on domestic and cross-border transactions and reorganisations. He advises his clients on foreign investments and on joint ventures, in particular with a focus on India.

Heiko’s clients include international groups as well medium-sized companies and family businesses. He has long-standing experience with shareholder disputes and advising family-owned companies on M&A transactions.

He joined CMS in 2002 and was made partner in 2009. Heiko is experienced in structuring and executing distressed asset transactions be it in the form of asset or share deals.

Prior to becoming a lawyer, Heiko qualified as business administrator with Siemens AG.

He is fluent in English and German.



Edward Tiong Yung Suh

Edward is the Deputy Head of the Firm’s Restructuring & Insolvency Practice. His main areas of practice are corporate restructuring and insolvency, commercial and banking litigation and property disputes. He has been lead counsel in several high-profile cases, in particular, restructuring matters (both cross-border and domestic), and commercial disputes.

In insolvency, he has advised statutory boards, government-linked companies, major banks, corporates and financial institutions on schemes of arrangements and compromise, judicial management, liquidation, standstills and clawbacks.

In litigation, he has represented major banks and blue chip companies in private banking, construction, property and commercial disputes, as well as fraud investigations.

Edward has been recommended for his expertise in several legal publications such as Chambers Asia-Pacific, The Legal 500 Asia Pacific and Benchmark Asia-Pacific. In IFLR1000, he is highly regarded for his expertise in Restructuring and Insolvency. He is also mentioned as a prominent partner in Global Restructuring Review and is recommended in Who’s Who Legal (WWL): Restructuring & Insolvency 2022 as a thought leader. WWL notes that Edward “‘strives to find solutions to problems’ and is ‘creative and constructive when taking into account different stakeholders’ concerns and needs’. He is ‘cool and collected even under the most trying situations’”. Recent accolades from Chambers Asia-Pacific note that Edward “got a very sharp mind and the depth of his experience comes through”. He “has very good commercial awareness and client-liaison skills; his management of the relationship is exceptional” and is “a good, sound practitioner”.

Edward has also written extensively and is a co-author of Halsbury’s Laws of Singapore on Insolvency. He is a Fellow of the Insolvency Practitioners Association of Singapore.

During the COVID-19 pandemic, Edward was appointed as an Assessor on the Panel of Assessors for COVID-19 Temporary Relief (“PACT’) set up by the Ministry of Law, to determine cases on whether temporary relief to individuals and companies ought to be given under the COVID-19 (Temporary Measures) Act 2020.

Edward graduated from the University of Hull with an LL.B. (Hons) degree. He joined Allen & Gledhill after his call to the Singapore Bar in 1998.



Rikiya Karakawa

Rikita Karakawa has been involved in wide variety of domestic and international cases, including cases relating to restructuring, intellectual property, competition law and corporate law. He also has extensive experience in dispute resolution such as negotiation and litigation.

With regard to restructuring, Mr. Karakawa has been engaged in cases of in-court and out-of-court restructuring, representing industry-leading companies as well as middle-sized enterprises as clients, which has given him abundant experience in this area.



Nguyen Van Hai

Hai Nguyen has over 10 years of experience in the practice of corporate, energy and capital markets. Hai has in-depth knowledge of the Vietnamese capital markets and energy sectors and the general legal landscape of Vietnam. Hai’s current main areas of practice are capital markets and finance transactions and other corporate transactional and advisory matters.

Hai is fluent in English. Prior to joining YKVN, Hai spent 5 years at the Corporate and International Trade departments of Mayer Brown JSM in Ho Chi Minh City, Vietnam. Hai’s practice is recognised by International Financial Law Review and Chambers and Partners and Asia Pacific Legal 500. Hai has also authored numerous publications covering a wide range of topics, including global trade, power and Vietnamese legal framework in general and had his articles published on Infra Asia, Asian Power and Asian-mena Counsel Magazine, to name a few.


  • Banking and Finance
  • Capital Markets
  • Corporate and M&A
  • Energy & Infrastructure
  • International Trade


  • University of the West of England, United Kingdom, LL.M. (2011)
  • Diplomatic Academy of Vietnam, B.A. in International relations & Public international law (2007)

Bar Membership

  • Ho Chi Minh City Bar Association