The peak indebtedness rule employed by liquidators to maximise recovery of unfair preference claims is abolished
On 30 July 2020, the Insolvency, Restructuring and Dissolution Act 2018 (IRDA) came into operation. The IRDA is an omnibus legislation housing all of Singapore’s insolvency and restructuring laws in one single piece of legislation.
The general framework of the IRDA has been discussed in the first article in our series of articles covering the various aspects of IRDA and can be found here.
On 30 July 2020, the Insolvency, Restructuring and Dissolution Act 2018 (IRDA) came into operation. The IRDA is an omnibus legislation housing all of Singapore’s insolvency and restructuring laws in one single piece of legislation.
The general framework of the IRDA has been discussed in the first article in our series of articles covering the various aspects of IRDA and can be found here.
On 30 July 2020, the Insolvency, Restructuring and Dissolution Act 2018 (IRDA) came into operation. The IRDA is an omnibus legislation housing all of Singapore’s insolvency and restructuring laws in one single piece of legislation.
The general framework of the IRDA has been discussed in the first article in our series of articles covering the various aspects of IRDA and can be found here.
A recent case in the NSW Court of Appeal clarifies the purpose, and limits, of a public examination summons
The Insolvency, Restructuring and Dissolution Bill was passed in the Parliament on 1 October 2018 and assented to by the President on 31 October 2018. Today, i.e. 30 July 2020, the Insolvency, Restructuring and Dissolution Act 2018 (IRDA) will finally come into effect. In this article, which is the first of five in a series of articles covering various aspects of IRDA, we will provide an overview of its main features.
History of Singapore’s insolvency regime
In recent years, there has been an increased interest in obtaining third-party funding to commence legal proceedings. The insolvency sector in particular has seen an increase in applications to court for approval of third-party funding agreements. In this article, we discuss how an insolvent entity may seek approval from the court for third-party funding to pursue legitimate claims.
Third-party funding an important resource for insolvent companies
The PAS Group decision reaffirms the principle that rent incurred during the administration period takes priority in the winding-up payment waterfall
Antqip Hire highlights the importance of drafting a DOCA carefully, and properly communicating to creditors the commercial risks
The case of Antqip Hire was brought by the liquidators of two related entities (Antqip Pty Limited and Antqip Hire Pty Limited).
Orders were sought determining:
A voluntary administrator is often appointed by the company. The directors have a role in selecting the administrator; often the referral will come through one of the company’s advisers, such as the accountant or lawyer.