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
In Re Tantleff, Alan [2022] SGHC 147, the Singapore High Court considered for the first time whether the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency (30 May 1997) (the...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
In Re PT MNC Investama TBK [2020] SGHC 149, the Singapore High Court provided guidance as to what is sufficient for a foreign company to establish standing to avail itself to the Singapore restructuring regime. Specifically,...more
9/3/2020
/ Commercial Bankruptcy ,
Companies Act ,
Corporate Restructuring ,
Foreign Corporations ,
Foreign Investment ,
Jurisdiction ,
Principal Place of Business ,
Restructuring and Dissolution Act 2018 (IRDA) ,
Scheme of Arrangement ,
Singapore ,
Singapore Exchange ,
Standing ,
Stock Exchange
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
8/25/2020
/ Corporate Dissolution ,
Corporate Restructuring ,
Distressed Debt ,
Exclusions ,
Financial Distress ,
Insolvency ,
Ipso Facto Clauses ,
Loan Agreements ,
Restructuring and Dissolution Act 2018 (IRDA) ,
Singapore ,
The Insolvency
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