In Foo Kian Beng v OP3 International Pte Ltd (in liquidation) [2024] SGCA 10 (OP3 International)1 the Singapore Court of Appeal considered the trigger for when the director's duty to consider the interests of creditors is...more
In Re Zipmex Pte Ltd and other matters [2023] SGHC 88, the Singapore High Court imported into the Singapore restructuring regime the US concept of an "administrative convenience class" in a scheme voting exercise. This...more
Lock-up agreements typically involve the company's creditors committing in advance to vote at the relevant class meeting in favour of the contemplated scheme. Lock-up agreements serve an important commercial purpose of either...more
The automatic stay under the version of the UNCITRAL Model Law on Cross-Border Insolvency adopted by Singapore ("Singapore Model Law") is an accessible and powerful tool for protection under the Singapore restructuring regime...more
9/3/2021
/ Appeals ,
Automatic Stay ,
Corporate Restructuring ,
Creditors ,
Cross-Border ,
Debt Restructuring ,
Debtors ,
Insolvency ,
Malaysia ,
Singapore ,
The Model Law ,
UNCITRAL
The Insolvency, Restructuring and Dissolution Act 2018 (the "IRDA") came into force on 30 July 2020. The consolidation of all personal and corporate insolvency and debt restructuring legislation into a single statute, along...more
9/5/2020
/ Corporate Dissolution ,
Cramdown ,
Creditors ,
Debt Restructuring ,
Insolvency ,
Ipso Facto Clauses ,
Judicial Management ,
Liquidation ,
New Legislation ,
Restructuring and Dissolution Act 2018 (IRDA) ,
Scheme of Arrangement ,
Singapore ,
Third Party Funding ,
Wrongful Trading
The landmark decision in Design Studio introduces the US rescue financing concept of "roll-ups" to Singapore. This is the first case to consider the appropriateness of the roll-up feature in Singapore and is a pragmatic...more
The Indonesian Supreme Court has reinstated the right of secured creditors to file a bankruptcy and suspension of payment (Penundaan Kewajiban Pembayaran Utang or PKPU) process....more