Singapore’s judicial management regime under review

SINGAPORE authorities are looking to overhaul the judicial management regime to ensure that it is not used as a precursor to winding up, Second Minister for Law Edwin Tong said on Thursday (Sep 22).

Officials will undertake a root-and-branch study to review, among other things, the types of applicants suitable for judicial management, such as which are the viable companies with reasonable prospects for rehabilitation.

The study will also look at tailoring the judicial manager’s expertise and domain knowledge to specific debtors, especially where the debtor does business in a specialised industry, said Tong, who was speaking at a debt restructuring conference organised by the Singapore International Commercial Court (SICC) and Insol International.