Annotated Guide to the Singapore Insolvency Legislation | 2023


Annotated Guide to the Singapore Insolvency Legislation: Corporate Insolvency | 2023

Author Harold Foo & Beverly Wee
Publication Date 2023
ISBN 9789811863059
Format Soft cover, 920 pages
Publisher Singapore Academy Publishing

Over the past decade, Singapore's insolvency and debt restructuring framework has experienced significant transformations. This includes integrating elements of the US Chapter 11 bankruptcy regime, adopting the UNCITRAL Model Law on Cross-Border Insolvency, and limiting the application of ipso facto clauses. These reforms ensure the framework remains responsive to the needs of debtors, creditors, and the economy.

The Insolvency Restructuring and Dissolution Act 2018, effective from July 2020, consolidates personal and corporate insolvency provisions, which were previously in two separate statutes, into a single piece of legislation. This Act represents the culmination of various legislative reforms, building on earlier amendments to the now-repealed Bankruptcy Act and Companies Act.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, the Annotated Guide to the Singapore Insolvency Legislation – Corporate Insolvency provides detailed commentary on the Act's various provisions in a straightforward and clear manner. It includes references to case law, comparable legislation, and law reform recommendations.

Authored by those who worked on the Act, this guide offers an authoritative and comprehensive account for insolvency professionals and anyone seeking to understand the Act better.

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ISBN: 9789811863059

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