Publication Type
Blog Post
Version
publishedVersion
Publication Date
9-2019
Abstract
In the past years, Singapore has modernized its insolvency framework with the purpose of becoming an international hub for debt restructuring. One of the most significant reforms has affected the Singapore Scheme of Arrangement (SSoA). Under the new SSoA, debtors are allowed to remain in possession leading the restructuring process while enjoying the protection of an automatic moratorium with worldwide effects as well as a variety of tools imported from the US Chapter 11, including the availability of DIP financing, the restriction of ipso facto clauses, and a cross-class cramdown. Therefore, the new SSoA differs significantly from the typical scheme of arrangement existing in most Commonwealth jurisdictions.
Keywords
Commercial law, Corporate Insolvency, Restructuring Hub
Discipline
Business Organizations Law | Commercial Law
Research Areas
Corporate, Finance and Securities Law
Publisher
Taylor & Francis (Routledge): SSH Titles - no Open Select
Citation
Aurelio GURREA-MARTINEZ.
International recognition of Singapore´s new restructuring framework. (2019).
Available at: https://ink.library.smu.edu.sg/sol_research/3705
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.