Push for new laws to make S'pore a debt workout centre

Singapore

SINGAPORE's insolvency laws will be strengthened with provisions similar to those under Chapter 11 bankruptcy protection laws in the US, as the government moves to position the Republic as an international centre for debt restructuring at a time when corporate defaults are high.

The Ministry of Law (MinLaw) on Wednesday said the government is looking to introduce amendments to the Companies Act by early 2017.