Introduction
In the course of bankruptcy proceedings, the disposition of property by the bankrupt is subject to a degree of control and restriction, requiring the consent or ratification of the Court. This protects the creditors from the unfair removal of property from the bankrupt's pool of assets.
Introduction
When a company is being wound up, its liquidators have powers to investigate into the company's affairs and dealings. Such powers are for the purpose of discharging their duties as officers of the court to steward the estate in liquidation.
Introduction
Restructuring and insolvency proceedings often span different jurisdictions, requiring the cooperation of the respective countries' insolvency regimes. In its role as an international hub for restructuring and insolvency, Singapore has in place a framework for the effective management of cross-border insolvency proceedings. This takes the form of the UNCITRAL Model Law on Cross-Border Insolvency, which has been enacted in Singapore in an adapted form ("SG Model Law").
Introduction
From 1 November 2023, bankruptcy estates are required to be administered by Private Trustees in Bankruptcy ("PTIBs"), except for cases where the Official Assignee ("OA") considers there is public interest and consents to be appointed as the trustee in bankruptcy.
Introduction
In commercial contracts, it is not uncommon to find provisions allowing for contractual discretion on the part of one or more parties, such as the discretion to vary certain interest or payment terms, to choose a port of delivery, or an option to purchase. While such provisions give a certain amount of decision-making power to the party that has been conferred the discretion, they are not without limit. These limits were explored in the Singapore High Court decision of Maybank Singapore Ltd v Synergy Global Resources Pte Ltd [2023] SGHC 258.
Introduction
Introduction
Introduction
The Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed) ("IRDA") allows companies intending to propose a scheme of arrangement to apply to court for a moratorium, during which proceedings against the company would be restrained so as to allow breathing room for its restructuring efforts. To balance this with the safeguarding of creditors' interests, there are certain requirements for an application for a moratorium.
简介
在 2022 年 12 月，中国最终结束了长达 3 年的新冠疫情遏制措施。作为按名义 GDP 计算的世界第二大经济体和按购买力平价计算的最大经济体，世界一直在屏息期待着中国经济在推动全球经济反弹中做出贡献。
尽管中国在 2023 年第一季度实现了4.5% 的增长，但信号仍然喜忧参半。 《南华早报》2023 年 4 月 30 日报道称，中国制造业采购经理人指数下探 49.2，为改革开放后的最低水平。 文章称，国家统计局的一位高级经济师认为，4月份下滑的主要原因是“市场需求不足和一季度制造业快速复苏的高基数效应”。 这显示，中国的提振效应需要时间来沉淀。 与此同时，许多公司和企业集团可能在陷入困境并寻求整顿、重组或清算。 这其中不乏在全球各地都有投资和业务的公司和企业集团。
Introduction
The law is constantly developing to fit the ever-changing world. Most recently, with the digitalisation of the commercial landscape and the proliferation of cryptocurrencies, NFTs and metaverse-related businesses, the courts have had to apply or adapt the law to deal with novel situations. This was the case in Re Babel Holding Ltd and other matters [2023] SGHC 98, where the Singapore High Court had to apply restructuring and insolvency law in the context of a cryptocurrency-related business.