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12 International Insolvency and Corporate Restructuring

Adeline Chong, Man Yip

From: Singapore Private International Law: Commercial Issues and Practice

Adeline Chong, Yip Man

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 04 March 2024

Corporations — Insolvency — Assignment of debts — Jurisdiction

This chapter explicates the corporate insolvency and restructuring regime in line with the applicable jurisdiction and choice of law rules in Singapore. It explains that Singapore is in an ideal spot to position itself as a cross-border insolvency and restructuring hub, especially when the nation is one of the leading financial centres regionally and globally. The Singapore court will recognize foreign insolvency and restructuring proceedings and offer assistance for the foreign proceedings under both the common law and the UNCITRAL Model Law on Cross-Border Insolvency. The chapter also examines the cross-border issues considered concerning corporate insolvencies and bankruptcies. It recognizes the establishment of the Judicial Insolvency Network as part of the proactive attempts of the Singapore judiciary to elevate Singapore’s status as an international insolvency and restructuring hub.

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