The Singapore Parliament has passed the COVID-19 (Temporary Measures) Act (2020) (the “Act“) to alleviate the consequences that the global pandemic has caused to businesses in Singapore.

The Act provides temporary relief in relation to the breach of obligations under specified contracts and further provides relief to financially distressed individuals and businesses in relation to insolvency proceedings.

To comply with social distancing directives, the Act also provides for alternative arrangements to conduct company meetings, introduces measures to keep the courts functioning and allows the issuance of control orders to prevent the spread of the virus. In this alert, we provide an overview of the Act, and analyse the implications for the Banking & Finance, Construction, Corporate, Intellectual Property and Restructuring and Insolvency sectors.

To read the full article, please click here.

For more information or if you would like to discuss how this impacts your business, please do get in touch with one of the Baker McKenzie contacts listed below.

For the latest regulatory and legal updates in jurisdictions across Asia Pacific, please refer to our Beyond COVID-19: Resilience, Recovery & Renewal webpage, which is regularly updated.

Author

Baker McKenzie Wong & Leow

Author

Principal, Wong & Leow LLC
Singapore
Email: Ai Ai Wong

Author

Principal, Wong & Leow LLC
Singapore
Email: Andrew Martin

Author

Principal, Wong & Leow LLC
Singapore
Email: Andy.Leck

Author

Principal, Wong & Leow LLC
Singapore
Email: Geraldine Ong

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Associate Principal, Wong & Leow LLC
Singapore
Email: Min-Tze Lean

Author

Principal, Singapore
Baker McKenzie Wong & Leow
Email: Nandakumar Ponniya