In the recent case – Paulus Tannos v Heince Tombak Simanjuntak and others and another appeal [2020] SGCA 85 (‘Paulus Tannos’), the Singapore Court of Appeal held that in determining whether to recognise a foreign bankruptcy order, the Singapore Courts could decline to recognise the foreign bankruptcy order (‘BO’) if there was, according to Singapore law, a breach of natural justice in obtaining the foreign BO.

Facts

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Introduction

Introduction

Re Zetta Jet Pte Ltd ([2019] SGHC 53) is a landmark decision by the Singapore High Court on the recognition of foreign bankruptcy proceedings and the public policy exception under the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency, as adopted by Singapore in the Tenth Schedule of the Companies Act (the Singapore Model Law).

This is the first reported decision in Singapore that:

Introduction

Introduction

Singapore is positioning itself as a hub for insolvency and restructuring.(1) In particular, there has been an increase in cases of cross-border restructuring in Singapore.(2)

Introduction

Introduction

The much-anticipated Insolvency, Restructuring and Dissolution Bill was passed on 1 October 2018. The bill aims to ensure that Singapore's restructuring and insolvency laws remain relevant and progressive to support its position as a global restructuring hub.

Introduction

The Companies Act was amended in May 2017 to introduce the following enhancements to Singapore's debt restructuring laws: