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Oaktree doesn’t have an onshore presence in India, and currently invests a “very, very small amount” in the nation.
Goldilocks Investment has filed a lawsuit in the Singapore High Court against Noble and its executives, alleging the trader inflated profits to raise money.
The company said it was “very close” to reaching final terms on a restructuring deal with a so-called ad hoc group of largely hedge fund creditors.
Noble’s debt restructuring plan already faces opposition from a group of junior noteholders and Goldilocks Investment Co., its fifth largest shareholder.
“The whole world is looking at India now,” said Wong. “It could be a once-in-a-lifetime opportunity.”
HNA missed payments to several Chinese banks and its bond yields have in recent months traded at times at levels that are often considered distressed.
The chip-assembler listed debt of more than $1 billion and assets of over $500 million in Chapter 11 papers filed in U.S. Bankruptcy Court in New York.
Representatives from eight Chinese banks’ branches in the southeastern province of Hainan, where HNA is based, met with the group.
The assets held by the dirty dozen include Essar Steel, Bhushan Steel and Bhushan Power & Steel.
The government’s pledge of capital for beleaguered state banks could make it easier for distressed funds to buy loans.