I REFER to the opinion piece entitled “Singapore’s insolvency and restructuring regime, in the eyes of practitioners” by ADTLaw LLC managing director Dawn Tan Ly-Ru and Mori Hamada & Matsumoto (Singapore) LLP counsel Tony Grundy, published in The Business Times on Jul 19, 2023.

According to the opinion piece, while the regime has worked well to a certain extent, Singapore has not yet achieved its aspiration of becoming an international debt restructuring hub.

The intention behind the opinion, in soliciting the views of various unnamed insolvency practitioners, is indeed commendable. However, I do disagree with it as a scorecard on how far Singapore’s restructuring regime has progressed in the past five years.