20 Dec 2018

Going concerns - December 2018

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Welcome to the inaugural edition of 'Going concerns', in which we strive to bring you the latest updates on restructuring and insolvency law. For this issue, we focus on Singapore and provide:

  1. A case summary on Re IM Skaugen SE and other matters [2018] SGHC 259, the first decision on a foreign company successfully applying for a scheme of arrangement moratorium pursuant to s. 211B of the Companies Act (Cap. 50);
  2. Our views on whether the restriction of ipso facto clauses in the upcoming Insolvency, Restructuring and Dissolution Bill will affect the shipping industry;
  3. A case summary of Re Swiber Holdings Ltd and another matter [2018] SGHC 180, where we consider whether a creditor holding security over an asset of a related third party may vote the full value of its claim in a creditors' meeting concerning a debtor in judicial management; and
  4. A case summary of Re Fan Kow Hin [2018] SGHC 257 which appears to keep third party litigation funding open in a bankruptcy context.

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Martin Green

Martin Green
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T:  +65 6226 1600 M:  Email Martin | Vcard Office:  Singapore

Gregg Johnston

Gregg Johnston
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Lauren Tang

Lauren Tang
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Jason Yang

Jason Yang
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Yi Lei Tan

Yi Lei Tan
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Jeffrey Tanner

Jeffrey Tanner
Associate

T:  +65 6622 9653 M:  Email Jeffrey | Vcard Office:  Singapore