Ingediend: 04 April 2017
In a bid to promote Singapore as an international debt restructuring hub, the Singapore Companies Act has been amended. Some of these amendments introduce features drawn from Chapter Eleven of the United States Bankruptcy Code - for instance, the introduction of rescue financing provisions and cram down provisions for dissenting classes of creditors in Schemes of Arrangements. These amendments are expected to change the debt restructuring landscape in Singapore and will take effect soon. This article discusses some of the key amendments.