Liability-management exercises allow companies to amend, exchange or refinance existing debt without a full restructuring. We advise issuers and creditors on consent solicitations, exchange offers, amend-and-extend transactions, and intercreditor arrangements under documentation that may be governed by Cambodian or foreign law. Particular attention is given to the enforceability of amendments, the treatment of non-consenting creditors, and any regulatory or corporate approvals required in Cambodia. Well-executed liability management can provide breathing room and align the capital structure with current business realities.