Your Essential Guide to Insolvency, Restructuring, and Dissolution: Annotated Guide to the Singapore Insolvency Legislation, 2023

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Background of the Insolvency Restructuring Dissolution Act 2018 (IRDA)

In 2013, Singapore undertook a significant transformation in its insolvency and restructuring framework. This involved consolidating the fragmented personal and corporate insolvency legislation and debt restructuring laws into a single comprehensive statute. Additionally, the legislation integrated elements from the United Nations Commission on International Trade Law (UNCITRAL) and advanced insolvency regimes from leading jurisdictions such as the UK, US, and Canada. These efforts culminated in the enactment of the IRDA, which came into force on 30 July 2020.

 

About the Authors

The Annotated Guide to the Singapore Insolvency Legislation (the “Annotation”) is authored by Ms Beverly Wee, Director at the Official Assignee and Public Trustee’s office, and Mr Harold Foo, a Deputy Director at the Policy Advisory Division and the Counsel for Parliamentary Affairs in the Ministry of Law. Their extensive experience and direct involvement with the IRDA from its inception to its drafting ensure the depth and accuracy of the Annotation.

 

Comprehensive and Authoritative Resource

The Annotation stands as a critical resource on the IRDA, offering valuable insights for the legal community in Singapore on corporate insolvency and restructuring. It addresses a wide range of topics, from the powers of the Official Assignee to detailed analyses of the key provisions of the IRDA.

The book provides commentary on the latest developments in cross-border insolvency and Singapore’s corporate rescue framework. It thoroughly examines the features assimilated into the IRDA, such as Chapter 11 of the United States Bankruptcy Code, and other recommendations that have shaped a robust and forward-looking corporate framework.

Featuring analyses of recent judgments, such as Re DSG Asia Holdings Pte Ltd [2022] 3 SLR 1250; [2021] SGHC 209, the Annotation is supplemented with numerous references and explanations. These include the influences from similar legal frameworks, committee recommendations on IRDA provisions, and the underlying purposes behind the newer provisions. The Annotation offers comprehensive insights and resources that go beyond surface-level commentary.

The Annotation is an indispensable guide for lawyers, law students, and legal academics seeking to deepen their understanding of the IRDA and its application.

Beyond the legal profession, the Annotation provides extensive information relevant to business law, making it an essential reference for professionals in fields related to corporate insolvency and restructuring.

 

Foreword by Justice Ramesh

The Honourable Justice Kannan Ramesh, Judge of the Appellate Division, Supreme Court of Singapore, has acknowledged the value of this work in the Foreword, highlighting its contribution to the legal community:

“I am positive that the Annotation will be a must-have companion for all stakeholders and readers, including insolvency legal practitioners, other professionals in the field of corporate restructuring, government officials, and academics. The eventual appearance of this book on their shelves and the shelves of every significant repository will be a testament to this.”

Equip yourself with the Annotated Guide to the Singapore Insolvency Legislation today – the essential resource on the IRDA.

 

Book review

For a comprehensive review of the book by Debby Lim for The Singapore Law Gazette, please click here.

 

Get your copy

Get your copy of Annotated Guide to the Singapore Insolvency Legislation here. This title is Credit Dollar (C$) redeemable for SAL members.