Ashok Kumar, former head of restructuring at TSMP in Singapore, has left along with the rest of his team to set up a new firm called BlackOak. Kumar's fellow director and partner, Darius Tay, is leading the new firm, which opened its doors on April 1 and will focus on the transactional and contentious aspects of corporate restructuring and insolvency.

“This is just the first phase of growth for us,” Kumar told Asialaw. “Sometime next month (May) I will be in touch with you about the next phase, which is the formation of an alliance with two other specialist Singapore firms which are focused on other complimentary specialist practice areas.”

Kumar was rated as a Leading Lawyer for restructuring and insolvency in the 2015 edition of Asialaw Leading Lawyers. The new edition is due out in June.