New legislation strengthening the compulsory acquisition regulatory framework in the Companies Act 1967 is welcome news for minority shareholders. On 9 May 2023 the Parliament of Singapore passed the Companies, Business...more
The Accounting and Corporate Regulatory Authority (ACRA) of Singapore is running a public consultation exercise from 17 December 2021 to 28 January 2022 to seek feedback from the public on proposed amendments to the Companies...more
Guidance from the General Division of the Singapore High Court on the extent to which the protections afforded by the statutory moratoria for schemes of arrangement conflict with the ability of maritime claimants to protect...more
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
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
For further information, please visit the White & Case Coronavirus Resource Center. The COVID-19 (Temporary Measures) Act (the "Act") was enacted on 7 April 2020. The Act provides temporary relief to businesses and...more
In The Enterprise Fund III Ltd & Ors v OUE Lippo Healthcare Ltd (2019), the Singapore Court of Appeal held that where a company that had been given a standby credit facility in order to buy shares in itself, the entire...more
The Singapore High Court recently issued the first-ever super-priority order for debts arising from rescue financing under Section 211E(1)(b) of the amended insolvency laws in the Companies Act. The decision shows that the...more
Re IM Skaugen SE [2018] SGHC 259 (27 November 2018) is an important first decision on the moratorium provisions of the new scheme of arrangement sections of the Companies Act. The High Court had a practical commercial...more
Foreign Companies May Restructure under the New Singapore Insolvency Provision - The insolvency provisions of the Companies (Amendment) Act 2017 came into force on 23 May 2017. They set up a new restructuring framework...more
On March 10, 2017, Singapore's Parliament approved the Companies (Amendment) Bill 2017 (the "Act") to enhance the country's corporate debt restructuring framework. The Act, a copy of which is available here, was assented to...more
A recent Singapore High Court decision has clarified the situations in which nominee directors can be convicted of money laundering offences in banking and wire fraud, and the appropriate penalties to be imposed....more
Singapore’s firm trajectory towards becoming an international hub for debt restructuring received a boost with the Companies (Amendment) Act 2017 coming into force on 23 May 2017....more
Further to K&L Gates’ Singapore Restructuring and Insolvency Alert dated 5 December 2016, Singapore’s revised restructuring and insolvency legislation has come into effect. The amendments to the Companies Act, summarised in...more
On 10 March 2017, the Singapore Parliament passed the Companies (Amendment) Act 2017 ("Amendment Act"), which amends the Companies Act. This update focuses on the key amendments that are intended to improve the transparency...more
The New Registers of Registrable Controllers and Nominee Directors - Companies incorporated in Singapore and foreign companies registered to carry on business here have 60 days from 31 March 2017 to keep a register of...more
On March 10, 2017, Singapore's Parliament approved the Companies (Amendment) Bill 2017 ("Act") to enhance the country's corporate debt restructuring framework. The Act was assented to by President Tony Tan Keng Yam on March...more
The legislative changes increase the transparency of ownership and control of business entities, improve ease of doing business, and allow for inward re-domiciliation....more
The Court of Appeal of Singapore confirms arbitrability of minority oppression claims and clarifies position on cross-appeals. The Court of Appeal of Singapore has reaffirmed what constitutes a step in proceedings for...more
Singapore’s Ministry of Finance (MOF) and Accounting and Corporate Regulatory Authority (ACRA) have invited public feedback on amendments to the Singapore Companies Act aimed at reducing regulatory burden and improving...more
The seminal ruling dictates when a buyout order under the new Section 254(2A) may be made as an alternative remedy to a winding up order....more
Companies Act to Allow Re-domiciliation Into Singapore - On 26 October 2016, the MOF and the ACRA proposed to amend the Companies Act to allow for inward re-domiciliation of companies. This will allow a foreign company...more
In JX Holdings Inc v Singapore Airlines Ltd [2016] SGHC 212 (29 September 2016), the Singapore High Court had to consider whether the Singapore shares held by a Japanese corporation that had merged with another Japanese...more
Pacific Andes Resources Development Ltd [2016] SGHC 210 (27 September 2016) involved an application under section 210(10) of the Companies Act for the restructuring of, among others, a Bermudan company listed in Singapore and...more
MAS Proposes Enhancements to the Regulatory Requirements on Protection of Customer’s Moneys and Assets - The MAS Consultation Paper on Enhancements to the Regulatory Requirements on Protection of Customer’s Moneys and...more