Mon, Sep 10, 2018 – 3:29 PM
AN omnibus bill to update various aspects of Singapore’s insolvency and debt restructuring laws was introduced in Parliament on Monday. One of the main objectives of the Insolvency, Restructuring and Dissolution Bill is to consolidate the personal and corporate insolvency and restructuring laws, which are in two separate statues: the Bankruptcy Act and Companies Act. When the new bill comes into force, the Bankruptcy Act will be repealed, and provisions in the Companies Act relating to corporate insolvency and restructuring will be deleted.
The bill will also establish a regulatory regime for insolvency practitioners, introducing minimum qualifications, conditions for the grant and renewal of licences, …
Read the full article at: https://www.businesstimes.com.sg/government-economy/parliament-singapore-introduces-omnibus-bill-to-update-insolvency-debt
