This briefing first appeared in the June 2020 edition of South Square Digest.

Executive Summary

In February 2020 the British Virgin Islands Commercial Court (the "BVI Court") sanctioned a creditor scheme of arrangement, which was part of a much larger cross boarder restructuring. This scheme of arrangement, which as a creditor scheme was itself rare for the BVI, was preceded by the BVI's first ever "soft touch" provisional liquidation (in linked proceedings), which commenced in December 2018.

Further to K&L Gates’ Singapore Restructuring and Insolvency Alert dated 5 December 2016,[1] Singapore’s revised restructuring and insolvency legislation has come into effect.

In October 2016, Singapore’s Ministry of Law (“MOL”) launched a public consultation to gather public feedback on proposed amendments to the Companies Act for debt restructuring.[1]