Bill tabled to integrate insolvency, bankruptcy and debt revamp laws
Omnibus Bill also aims to strengthen debt restructuring regimes and regulate insolvency practitioners
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Tay Peck Gek
Singapore
AN omnibus Bill that consolidates personal and corporate insolvency and debt restructuring laws into a single piece of legislation was tabled for first reading in Parliament on Monday.
The Insolvency, Restructuring and Dissolution Bill introduced by Senior Minister of State for Law Edwin Tong, seeks to unify personal and corporate bankruptcy and debt restructuring laws, enhance the law to further strengthen the debt restructuring regimes, as well as regulate insolvency practitioners.
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