Frameworks focused on restructuring companies in distress are becoming more transparent in Singapore and Taiwan
Singapore’s insolvency and restructuring developments
Singapore’s omnibus Insolvency, Restructuring and Dissolution Act, 2018 (IRDA), came into effect on 30 July 2020 and amalgamated its corporate and personal insolvency processes, which were previously in separate statutes. The IRDA also incorporated the UNCITRAL Model Law on Cross-Border Insolvency (Model Law) into Singapore law.
The IRDA, together with the lingering effects of disruptions and insolvencies brought about by the covid-19 pandemic, has resulted in more insolvency cases being litigated before the Singapore courts. We take a look at four judgments…