Singapore's updated insolvency kit may see more use next year as government support tapers off
Insolvency, Restructuring and Dissolution Act seen as kinder to firms trying to free themselves from debt
Add BT as a preferred source
Singapore
SINGAPORE'S updated legal toolkit for corporate insolvency and debt workouts was rolled out only recently, and amid a pandemic-wrecked business environment. Thus far, its rescue funding, pre-pack scheme and out-of-court restructuring features have offered the most bite.
Even so, experts reckon the Insolvency, Restructuring and Dissolution Act (IRDA), a mammoth statute that came into force end-July 2020, will be tested further as the government tapers its Covid-19 support for certain sectors.
TRENDING NOW
Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
Great Eastern goes on the high-net-worth offensive, but don’t call it a pivot
UK PM Starmer resigns; new leader to be in place by September
