Liquidation & Bankruptcy – Singapore Legal Developments & Case Commentaries

Schemes of Arrangement: Threshold of Disclosure When Seeking Leave to Call a Scheme Meeting

May 19, 2019

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in Case Commentary, Commentary, Company Law, Cross-Border, Food, law, Liquidation & Bankruptcy, Restructuring & Rescue, Self Help

The recent Singapore Court of Appeal judgment in Pathfinder Strategic Credit LP v Empire Capital Resources Pte Ltd [2019] SGCA 29 (the “Judgment“) – accessible here – is a timely reminder of a corporate debtor’s obligations when applying to restructure its debts under Singapore’s Companies Act (the “Act“). Simply put, the main thrust of the…

Winding Up To Unlock Deadlock: A Cautionary Tale

Mar 28, 2018

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Alexander Pang

in Case Commentary, Commentary, Company Law, Cross-Border, Food, law, Liquidation & Bankruptcy, Restructuring & Rescue, Self Help

A case commentary on the Singapore Court of Appeal decision in Perennial (Capitol) Pte Ltd and Anor v Capitol Investment Holdings Pte Ltd and Ors [2018] SGCA 11, as well as certain legal and practical takeaways.

Getting The Deal Through: Insolvency & Restructuring 2018

Mar 5, 2018

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Alexander Pang

in Commentary, Cross-Border, Food, Insolvency, law, Liquidation & Bankruptcy, Publications, Restructuring & Rescue, Self Help

Getting The Deal Through: Insolvency & Restructuring 2018

Case Commentary: Perennial (Capitol) Pte Ltd and Anor v Capitol Investment Holdings Pte Ltd and Ors [2018] SGCA 11 [Insolvency Law] [Just & Equitable Winding Up Applications] [Shareholders’ Disputes] [Management / Shareholder Deadlock]

Feb 28, 2018

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Alexander Pang

in Case Commentary, Commentary, Company Law, Cross-Border, Food, Insolvency, law, Liquidation & Bankruptcy, Restructuring & Rescue, Self Help

A review of – and commentary concerning – the Singapore Court of Appeal’s decision in Perennial (Capitol) Pte Ltd and Anor v Capitol Investment Holdings Pte Ltd and Ors [2018] SGCA 11, concerning what constitutes “deadlock” in the context of an application to wind up a company on just and equitable grounds where shareholders have fallen…

Contingent Liabilities As A Basis For The Composition of Debts [Insolvency Law] [Restructuring] [Company Law] [Companies Act] [Statutory Interpretation]

Feb 28, 2018

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Alexander Pang

in Commentary, Cross-Border, Food, law, Liquidation & Bankruptcy, Restructuring & Rescue, Self Help

In the freshly released judgment in Re Empire Capital Resources Pte Ltd [2018] SGHC 36, the Singapore High Court reiterated that a scheme of arrangement under Singapore law could lawfully release third-party claims, i.e. the creditors’ claims against entities / persons other than (or in addition to) the scheme applicant. A unique feature of the…

Re-Domicile to Restructure – “Good Forum Shopping” ?

Oct 13, 2017

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Alexander Pang

in Case Commentary, Commentary, Cross-Border, Food, Insolvency, law, Liquidation & Bankruptcy, Restructuring & Rescue, Self Help

As of 11 October 2017, foreign companies meeting the relevant criteria may “re-domicile” in Singapore, effectively becoming Singapore companies. This is in line with the amendments to the Companies Act made earlier in March this year. Apart from the consequences of re-domiciliation highlighted in the Business Times article available here, it is also likely that…

Staying a Winding Up Application Based On An Adjudication Award [Insolvency Law] [Construction Law]

Oct 9, 2017

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Alexander Pang

in Commentary, Cross-Border, Food, law, Liquidation & Bankruptcy, Restructuring & Rescue, Self Help

Executive Summary In the unreported Singapore High Court decision in Strategic Construction Pte Ltd v JH Projects Pte Ltd [2017] SGHC 238 (the “Judgment”) (available on Singapore Law Watch here), the Singapore Court considered whether to stay a winding up application brought by the Plaintiff (“SCPL”) against the Defendant (“JHP”). SCPL’s application was premised on…

Critical Considerations For Financially Beleaguered Companies Making Repayments Prior To Insolvency [Insolvency and Company Law]

Aug 3, 2017

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Alexander Pang

in Commentary, Cross-Border, Food, law, Liquidation & Bankruptcy, Restructuring & Rescue, Self Help

A summary of the transactions entered into by a company (pre-insolvency) which may be subject to challenge by a liquidator of an insolvent company under Singapore law.

Edge of Tomorrow: Singapore’s Debt-Restructuring Regime Revised [Insolvency & Restructuring Law]

Jul 16, 2017

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Alexander Pang

in Commentary, Cross-Border, Food, Insolvency, law, Legislative Amendments, Liquidation & Bankruptcy, Publications, Restructuring & Rescue, Self Help

Mr Thio Shen Yi S.C. and I review the revisions to Singapore’s Companies Act (Cap. 50) insolvency and restructuring provisions, as well as the adoption of the UNCITRAL Model Law on Cross Border Insolvency. This review was published in the June 2017 edition of the Singapore Law Gazette and may be viewed here.

Upcoming Changes to the Debt Restructuring Regimes in Singapore [Insolvency & Restructuring Law]

May 20, 2017

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Alexander Pang

in Commentary, Cross-Border, Food, law, Liquidation & Bankruptcy, Restructuring & Rescue, Self Help

Mr Shen Yi Thio S.C., Mr Patrick Ang and I share our views, reported in the Straits Times here, in relation to the new insolvency and restructuring laws that are set to come into effect sometime either in the second half of 2017 or in the early part of 2018. The key features of the…

Category: Liquidation & Bankruptcy