A new law to consolidate Singapore’s personal bankruptcy and corporate insolvency regimes will be introduced next year, said Home Affairs and Law Minister K. Shanmugam yesterday.
The omnibus Insolvency Bill, which is expected to be enacted in the second half of next year, will streamline the laws to provide consistency and clarity, said Mr Shanmugam, who was speaking at the start of the Singapore Insolvency Conference 2017.
Currently, the provisions can be found in two separate statutes: the Bankruptcy Act and the Companies Act.
This major change to Singapore’s legislative framework will further boost the Republic’s status as a leading centre for cross-border debt restructuring, he added.
Get The Straits Times
newsletters in …
Read the full article at: http://www.straitstimes.com/singapore/move-to-streamline-insolvency-framework
