Singapore – Singapore’s policymakers are wrapping up the public feedback process on proposed changes to its insolvency law, part of a broader effort to enhance its appeal as a hub for corporate restructuring in Asia.
A key change would broaden a provision in restructuring plans, known as cross-class cramdowns, to prevent shareholders from dissenting, according to a Ministry of Law report. The proposals would also streamline the process of disposing a debtor’s property or issuing new shares, and recommend building incentives into restructuring managers’ compensation.
The public consultation period will close on April 8, after which the Ministry of Law will draft a bill to be read in parliament before the proposals are enacted.
