The Singapore High Court has recently granted recognition to Hong Kong liquidation proceedings and liquidators for the first time under Singapore's enactment of the United Nations Commission on International Trade Law Model Law on Cross Border Insolvency (the model law). The model law, which was adopted by Singapore in May 2017 and first applied in the case of Re: Zetta Jet Pte Ltd1, is the leading international initiative on the recognition of foreign insolvency and restructuring proceedings, and provides a clear framework for jurisdictions to recognize and assist foreign jurisdictions.
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