Simplified Insolvency Programme (Singapore) | Dentons
Maximum annual sales turnover of S$10 million In the case of the simplified winding up programme, the value of its realisable unencumbered assets not exceeding S$50,000 In addition, the MSC has to be a company incorporated in Singapore and there must be not be any circumstances that make the MSC unsuitable for the SIP. For example, a company would be unsuitable if: Any Court applications or orders have been made to wind up or restructure the company; or The restructuring or winding up of the company is likely to require significant resources or specialised knowledge or expertise. Creditors of...
Source: jdsupra.com