Singapore continues to develop its status as an upcoming international hub for debt restructuring. The nation-state updated and strengthened its restructuring and insolvency laws in recent years, primarily through enacting the omnibus Insolvency, Restructuring and Dissolution Act 2018 (IRDA) and incorporating the UNCITRAL Model Law on Cross-Border Insolvency (the Model Law) into Singapore law.
The Singapore courts have also rendered recent decisions that strike a balance between strengthening pro-cross border reorganisation goals and adhering to the creditor-friendly history of Singapore law.
This article provides a brief survey of certain significant decisions in Singapore relating to rescue lending, restructuring and winding…