Following an overhaul of the Singapore insolvency regime which came into force on 30 July 2020, the insolvency and restructuring framework was consolidated in the omnibus Insolvency, Restructuring and Dissolution Act 2018...more
In Foo Kian Beng v OP3 International Pte Ltd (in liquidation) [2024] SGCA 10 (OP3 International)1 the Singapore Court of Appeal considered the trigger for when the director's duty to consider the interests of creditors is...more
In Re Zipmex Pte Ltd and other matters [2023] SGHC 88, the Singapore High Court imported into the Singapore restructuring regime the US concept of an "administrative convenience class" in a scheme voting exercise. This...more
Vietnam's M&A market put in a strong performance in 2022, despite signs of the global economy fighting against a falling tide. Total deal volume for 2022 dropped by 19% year-on-year to 62 transactions (down from 77 in 2021),...more
ESG, sustainability, climate change adaptation and mitigation, social impact investing and related themes have become ubiquitous concepts that seem to be top of mind for every board director, financier and investor. While...more
12/13/2022
/ Capital Markets ,
Climate Change ,
Disclosure ,
Economic Growth ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Markets ,
Green Loans ,
Loans ,
Sustainability ,
Sustainable Finance
In recent years, Indonesian companies have shown both a greater willingness to use foreign restructuring processes, as well as a greater need to do so given the increasingly sophisticated financing structures and investor...more
In Re Tantleff, Alan [2022] SGHC 147, the Singapore High Court considered for the first time whether the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency (30 May 1997) (the...more
Lock-up agreements typically involve the company's creditors committing in advance to vote at the relevant class meeting in favour of the contemplated scheme. Lock-up agreements serve an important commercial purpose of either...more
High-growth industries continue to attract investor interest despite COVID disruptions -
Vietnam’s M&A activity is set for another robust year following 2020’s potent performance. In the first three quarters, deals with...more
The COVID-19 pandemic's severe impact on the global economy continued through 2020 and 2021, and the Asia-Pacific region (APAC) was no exception. Despite the many current challenges, justified optimism and robust deal...more
10/6/2021
/ Acquisitions ,
Asia ,
Asia Pacific ,
Capital Raising ,
Coronavirus/COVID-19 ,
Financial Services Industry ,
Financing ,
Foreign Investment ,
Global Economy ,
Investment ,
Loans ,
Mergers ,
Outbound Transactions ,
Private Equity ,
Renewable Energy ,
Sustainable Finance ,
Taiwan
The automatic stay under the version of the UNCITRAL Model Law on Cross-Border Insolvency adopted by Singapore ("Singapore Model Law") is an accessible and powerful tool for protection under the Singapore restructuring regime...more
9/3/2021
/ Appeals ,
Automatic Stay ,
Corporate Restructuring ,
Creditors ,
Cross-Border ,
Debt Restructuring ,
Debtors ,
Insolvency ,
Malaysia ,
Singapore ,
The Model Law ,
UNCITRAL
M&A in Vietnam surged in Q3, thanks to an economy that has proved resilient in the face of a global pandemic -
M&A in Vietnam has been remarkably robust in 2020. The total volume of deals over the first three quarters of...more
On September 14, 2020, the US Bankruptcy Court for the Southern District of New York recognized the Indonesian court-supervised restructuring plan for the Indonesian Duniatex textiles group ("Duniatex Group") under Chapter...more
The Insolvency, Restructuring and Dissolution Act 2018 (the "IRDA") came into force on 30 July 2020. The consolidation of all personal and corporate insolvency and debt restructuring legislation into a single statute, along...more
9/5/2020
/ Corporate Dissolution ,
Cramdown ,
Creditors ,
Debt Restructuring ,
Insolvency ,
Ipso Facto Clauses ,
Judicial Management ,
Liquidation ,
New Legislation ,
Restructuring and Dissolution Act 2018 (IRDA) ,
Scheme of Arrangement ,
Singapore ,
Third Party Funding ,
Wrongful Trading
In Re PT MNC Investama TBK [2020] SGHC 149, the Singapore High Court provided guidance as to what is sufficient for a foreign company to establish standing to avail itself to the Singapore restructuring regime. Specifically,...more
9/3/2020
/ Commercial Bankruptcy ,
Companies Act ,
Corporate Restructuring ,
Foreign Corporations ,
Foreign Investment ,
Jurisdiction ,
Principal Place of Business ,
Restructuring and Dissolution Act 2018 (IRDA) ,
Scheme of Arrangement ,
Singapore ,
Singapore Exchange ,
Standing ,
Stock Exchange
The Insolvency, Restructuring and Dissolution Act 2018 (the "IRDA") came into force on 30 July 2020. The consolidation of all personal and corporate insolvency and debt restructuring legislation into a single statute, along...more
8/25/2020
/ Corporate Dissolution ,
Corporate Restructuring ,
Distressed Debt ,
Exclusions ,
Financial Distress ,
Insolvency ,
Ipso Facto Clauses ,
Loan Agreements ,
Restructuring and Dissolution Act 2018 (IRDA) ,
Singapore ,
The Insolvency
The landmark decision in Design Studio introduces the US rescue financing concept of "roll-ups" to Singapore. This is the first case to consider the appropriateness of the roll-up feature in Singapore and is a pragmatic...more
The Indonesian Supreme Court has reinstated the right of secured creditors to file a bankruptcy and suspension of payment (Penundaan Kewajiban Pembayaran Utang or PKPU) process....more
For further information, please visit the White & Case Coronavirus Resource Center. The COVID-19 (Temporary Measures) Act (the "Act") was enacted on 7 April 2020. The Act provides temporary relief to businesses and...more
In light of the novel coronavirus (“COVID-19”) pandemic, the Singapore Government (the “Government”) has introduced various financing support, tax and other temporary relief measures designed to help Singapore businesses...more
4/30/2020
/ Coronavirus/COVID-19 ,
Financial Assistance Policies ,
Financial Distress ,
Foreign Workers ,
Midsize and Large Business Loans ,
Property Tax ,
Public Health Emergency ,
Relief Measures ,
Singapore ,
Small and Medium-Sized Enterprises (SMEs) ,
Small Business Loans ,
Social Security Taxes ,
Tax Relief ,
Time Extensions