Nandakumar Ponniya


View Japanese Version The Singapore Ministry of Law will introduce the COVID-19 (Temporary Measures) Bill (the Bill) in Parliament next week to address the impact of COVID-19 on businesses and individuals’ ability to fulfil their contractual obligations. The Bill will also make some temporary changes relating to bankruptcy and insolvency. The Bill will apply to various categories of contracts, including: Construction and supply contracts;Leases or licenses for non-residential property;Contracts for the provision of goods and services…

The Singapore Companies (Amendment) Act 2017 (“Act“)[1], which came into force on 23 May 2017, introduced significant new legislative tools to rescue distressed companies and significantly enhanced Singapore’s schemes of arrangement and judicial management processes.

The Act also introduced into Singapore law the UNCITRAL Model Law on Cross Border Insolvency (“Model Law”) facilitating the recognition of cross border insolvency processes in Singapore.