On February 1, 2021, the Myanmar military declared a state of emergency in the country and took control of the government, arresting State Counsellor Aung San Suu Kyi, President Win Myint, and other senior government officials from the National League for Democracy. The seizure of power, and the government’s subsequent actions to suppress public protest and dissent, have received widespread international condemnation.  The USA, Canada, and the UK have reacted by imposing economic sanctions on certain companies and individuals, and more sanctions are expected as the situation in Myanmar evolves. These sanctions pose a major concern for foreign investors with interests in Myanmar—concern which is exacerbated by the lack of clarity about the current situation on the ground. To address these issues, Lex Mundi is bringing together leading legal authorities on the topic from Myanmar, Canada, the United States, and the United Kingdom for a special webinar on March 23, 2021. The speakers, which include Tilleke & Gibbins counsel Ross Taylor, will discuss the situation on the ground in Myanmar; how the sanctions imposed this time differ from previous restrictions on Myanmar under earlier regimes; the impact of the sanctions imposed by each country; and the practical impact of sanctions on companies with operations in or relating to Myanmar. The session will be followed by a Q&A with all speakers, where attendees will be able to address any specific queries they might have. For more details and to register for this free webinar, please visit the event information page.

A recent article on the progress of the business rehabilitation of Thai Airways quotes John Frangos, partner and deputy director of Tilleke & Gibbins’ dispute resolution department, on various aspects of the developing case. The article, titled “Lessors strike deals with Thai Airways,” was written by airline industry business information provider Cirium and shared through FlightGlobal, the world’s leading publisher of news, analysis, and other content for the aviation industry. The article reports that the majority of the aircraft lessors who have exposure to Thai Airways are in the final stages of signing agreements with the beleaguered airline to govern management of their aircraft in the business restructuring process. In discussing his own experience representing various creditors in the process, John explains that the airline may be adopting a blanket policy of objecting to requests for debt repayment. “It appears to be a clear strategy of the plan preparer to object to many debt-repayment applications as a way to try to reduce the overall debt amount,” he is quoted as saying. The article also notes that there is still considerable uncertainty surrounding the ongoing business rehabilitation. Part of this is related to the future makeup of the carrier’s reduced fleet, but the most pressing issue is whether Thai Airways will submit its rehabilitation plan by the March 2, 2021, deadline. If this deadline is not met, one possibility is that the airline would have to file for dissolution. However, John considers that even if they miss the deadline, other workarounds will be explored. “If they don’t finish and they do legitimately need more time, then at least for me personally I can’t see the whole process unravelling because they can’t submit by the deadline,” he says. To read the full article, please visit the FlightGlobal website.

On November 19, 2020, Tiziana Sucharitkul, co-managing partner at Tilleke & Gibbins and director of the firm’s regional disputes resolution practice, will join a panel of managing partners from leading law firms around the world for a special roundtable seminar at the International Bar Association (IBA) Annual Conference. Originally due to be held in Miami, the 2020 conference has moved online this year under the theme “Virtually Together,” in light of the ongoing global health crisis.  

John Frangos, partner and deputy director of Tilleke & Gibbins’ dispute resolution department, was quoted extensively in a recent article on the progress of the ongoing business rehabilitation of Thai Airways. The analysis, titled “Lessors submit proposals to Thai Airways—reluctantly,” was put together by airline industry business information provider Cirium and shared through FlightGlobal, the world’s leading publisher of news, analysis, and other content for the aviation industry.