On 6 May 2014, the Ministry of Law ("MinLaw") issued its response to the feedback received from the public consultation on the final report (the "final report") of the Insolvency Law Review Committee (the "Committee") in relation to proposed recommendations affecting Singapore's personal and corporate insolvency regimes.
The Singapore High Court in Beluga Chartering GmbH (in liq) v Beluga Projects (Singapore) Pte Ltd (in liquidation) & Anor considered whether Singapore liquidators of Singapore-registered subsidiary companies were able to repatriate the applicant's ("Beluga Chartering") Singapore assets to Germany, where Beluga Chartering was incorporated.
Global Distressed Alpha Fund I Ltd Partnership v Integrated Financial Advisory Ltd [2012] SGHC 152.
In Re Lehman Brothers Finance Asia Pte Ltd, the liquidators of Lehman Borthers Finance Asia Pte Ltd made an application to court to determine the relevant exchange rate for the conversion of foreign currency debts to Singapore Dollars in creditors' voluntary liquidation ("CVL")
This table provides an overview of the key developments in 2012 to date.
The Singapore High Court in Yap Guat Beng v Public Prosecutor laid down the sentencing guidelines for offences of an undischarged bankrupt acting as a director or being involved in the management of a company or a business.
The Insurance (Amendment) Bill 2011 (the "Bill") was passed in Parliament on 11 April 2011.
In Larsen Oil and Gas Pte Ltd (in official liquidation in the Cayman Islands and in compulsory liquidation in Singapore) [2011] SGCA 21, the Singapore Court of Appeal endorsed, and elaborated on, the stance taken by the High Court concerning the relationship between arbitration and insolvency
In Larsen Oil and Gas Pte Ltd v Petroprod Ltd (in official liquidation in the Cayman Islands and in compulsory liquidation in Singapore) [2011] SGCA 21, the Singapore Court of Appeal endorsed, and elaborated on, the stance taken by the High Court concerning the relationship between arbitration and insolvency.
SAAG Oilfield Engineering (S) Pte Ltd (formerly known as Derrick Services Singapore Pte Ltd) v Shaik Abu Bakar bin Abdul Sukol & Anor and another appeal [2012] SGCA 7