Regional news: Singapore

The high-profile collapses of FTX and other crypto companies will lead to the “next wave” of mediations and arbitrations, according to speakers at the Singapore Global Restructuring Initiative’s inaugural conference.

15 November 2022

Auditors from Mazars in Singapore and Hong Kong must disclose documents relating to the liquidation of a formerly Singapore-listed investment holding company, after the Singapore High Court found that section 285 of the local Companies Act – which allows liquidators to obtain information on a company’s affairs – has extraterritorial effect.

04 November 2022

Indonesia’s national airline has secured US recognition of its US$9.5 billion restructuring plan, but two Irish lessors said they will resist attempts by the company to seek enforcement orders.

27 October 2022

Updated: Mayer Brown is partnering up with Singaporean law firm PK Wong & Nair to continue its global expansion, three months after it entered a collaboration with French boutique Santoni & Associés.

26 October 2022

The joint liquidators of three British Virgin Island funds believed to have links to scandal-hit Malaysian sovereign wealth fund 1Malaysia Development Berhad have secured recognition of their appointments in Singapore.

20 October 2022

In what appears to be the first reported Singaporean decision confirming shareholders have legal standing to oppose creditors’ winding up applications, the Singapore High Court has rejected a winding up petition against the local parent and alleged guarantor of an Indian electronic banking platform.

18 October 2022

As the Singapore International Commercial Court implements new rules to bolster its role in cross-border restructurings, local lawyers are bullish on the international insolvency work that will likely emerge from the reforms.

12 October 2022

Two months after former Delaware Chief Bankruptcy Judge Christopher Sontchi began his first term with Singapore’s International Commercial Court, it has announced new rules giving it greater powers and flexibility to hear cross-border insolvency cases – while Singapore’s second minster for law has also revealed a study into the judicial management tool to “unlock its full potential”.

22 September 2022

“You can’t put the toothpaste back in the tube.” Comparing the evolution of rescue financing in the US with Singapore, Spain and Italy, speakers at the International Insolvency Institute’s NextGen conference in Toronto discussed the controversial rise of roll-ups and noted lenders will not stop asking for them now they are used so frequently.

21 September 2022

Property developer China Fortune Land has revealed details of a proposed debt swap that it will offer to holders of eleven tranches of bonds issued by a Cayman subsidiary – with plans to pursue an English scheme of arrangement if a consent proposal fails.

16 September 2022