Insolvency, Restructuring and Dissolution Act 2018

The Insolvency, Restructuring and Dissolution Bill (Bill 32 of 2018) (the "Insolvency Bill") was recently introduced in Parliament in Singapore. The Insolvency Bill was first read in Parliament on 10 September 2018 and was passed on 1 October 2018. It is expected to come into force in a few months' time. Once the Act is in force, it will consolidate the existing provisions under the Bankruptcy Act and the Companies Act into a single Act (the Insolvency, Restructuring and Dissolution Act 2018). The Bankruptcy Act will be repealed and the insolvency provisions within the Companies Act will be deleted. A copy of the Insolvency Bill can be found here.