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Since 1 October 2022, the Singapore International Commercial Court now has jurisdiction to hear cross-border restructuring and insolvency matters. In addition, foreign lawyers may be...
In Re Zipmex Co Ltd (2022), the Singapore High Court held that Thai, Indonesian and Australian subsidiaries of the Zipmex Group had their Centre of Main Interest in Singapore. It noted...
Under the Insolvency, Restructuring and Dissolution Act 2018, a transfer of shares in a company made after the commencement of winding up of that company by the Court is void unless...
Injunction restraining the creditor from initiating winding-up proceedings can be granted if the debt is disputed on bona fide and substantial grounds. There are genuine cross claims based on substantial grounds exceeding the debt amount.
Restructuring debt obligations under Singapore law can be an attractive option for companies seeking debtor-led reorganisations, as the country aims to be a centre for debt restructuring in Asia. There are options for non-Singapore companies to take advantage of the jurisdiction’s scheme of arrangement regime.