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Singapore court follows English and Hong Kong approach to contingent creditor analysis

By Douglas Thomson

08 October 2018

Singapore court follows English and Hong Kong approach to contingent creditor analysis Judge Ramesh ruled that if BMT could not gain unanimity behind a proposed course of action it would have to vote both for and against a proposal for the vote by head in a creditors' meeting - effectively delivering a single null vote / istock.com/zakokor

A Singapore court has followed the English and Hong Kong courts’ approach to contingent creditor analysis, allowing noteholders of oil and gas group Swiber to vote directly in scheme meetings where only the trustee of their notes can vote in the initial meetings for statements of proposal.