Debt restructuring - shift in attitude needed

ONE year ago, groundbreaking amendments were made to the Singapore Companies Act (Cap 50) that significantly enhanced the legal framework governing debt restructuring in Singapore. The primary objective behind these reforms was to enable a more constructive and efficient restructuring solution to business rescue.

Singapore now has the legal tools in place to compete effectively with other restructuring hubs. Since the new amendments came into effect, at least 15 applications for formal d…