The Insolvency, Restructuring and Dissolution Act (the IRDA) commenced on 30 July 2020. The IRDA is an omnibus legislation that consolidates Singapore’s personal insolvency, corporate insolvency and debt restructuring laws into a single legislation. The IRDA will replace the Bankruptcy Act and the corporate insolvency and restructuring provisions in the Companies Act, each of which will be repealed. The IRDA also introduces new changes to the insolvency framework in Singapore. For more information, please view…

In brief The Singapore Court of Appeal has clarified the standard of review that applies to winding-up applications where the underlying relationship between the debtor and creditor is subject to an arbitration agreement. The Court held that a debtor can resist a winding-up application provided that it demonstrates, on a prima facie basis, that: (a) there is a valid arbitration agreement between the parties, (b) the debt is disputed and such dispute falls within the scope of…