Annotated Guide to the Singapore Insolvency Legislation

ANNOTATED GUIDE TO THE SINGAPORE INSOLVENCY LEGISLATION

Corporate Insolvency

Singapore’s insolvency and debt restructuring framework has undergone tremendous change in the last decade. From the incorporation of elements of the US Chapter 11 bankruptcy regime and adoption of the UNCITRAL Model Law on Cross-Border Insolvency, to the restriction of the application of ipso facto clauses, these reforms ensure that the regime continues to remain responsive to the needs of debtors, creditors and the economy.

With the coming into force of the Insolvency Restructuring and Dissolution Act 2018 in July 2020, the Act consolidates the personal and corporate insolvency provisions, previously found in two separate statutes, into a single piece of legislation. This also represents the culmination of various phases of legislative reform – building on earlier amendments to the now repealed Bankruptcy Act and Companies Act.

As Singapore’s principal insolvency legislation and one of the largest standalone bills introduced in Parliament, Annotated Guide to the Singapore Insolvency Legislation – Corporate Insolvency provides detailed commentary of various provisions in the Act in a simple and clear manner. This includes references to case law, comparable legislation and law reform recommendations

Authored by the persons who worked on the Act, this offers an authoritative and comprehensive account not only for insolvency professionals, but also anyone seeking a starting point to better understand the Act.