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Upcoming events
SGRI Inaugural Conference
14-15 November 2022 (SGT)
The SGRI Inaugural Conference will take place on 14-15 November 2022. The opening speech will be delivered by Mr Edwin Tong SC, Minister for Culture, Community and Youth and Second Minister for Law. After the opening panel, there will be several panels where local and international experts, including prominent scholars, leading practitioners, judges, regulators and policymakers from all over the world, will discuss some of the hottest topics in corporate restructuring and insolvency, including insolvency law and new technologies, DIP financing, valuation issues in corporate reorganisations, insolvency and ADR, cross-border insolvency (with particular emphasis on corporate groups, insolvency protocols, applicable law, cooperation and enforcement), insolvency law in emerging markets, and many other exciting topics. More information about the conference will be provided in the coming weeks. So stay tuned and save the date!
SGRI-SMULA Webinar on Insolvency and Cryptocurrencies
21 October 2022
4.00pm to 5.30pm (SGT)
Recent events in the cryptoindustry, such as the drop in the price of Bitcoin, the collapse of various cryptoexchanges and stablecoins, Coinbase's disclosure to the SEC clarifying the treatment of their users in the event of insolvency, and the suspension of withdrawals, trading and deposit by Singapore-based crypto CeFi lender Vauld have accentuated the attention of the legal and financial community on the treatment of cryptocurrencies and cryptoexchanges in insolvency.
Past events
Implementing a Pre-Packaged Scheme of Arrangement in Singapore: A Case Study Approach
22 July 2022
4.00pm to 5.30pm (SGT)
This webinar adopted a unique and practical case study approach to analyse the challenges generally existing in the implementation of a pre-pack in Singapore. It reviewed the pre-packs successfully approved since the adoption of this restructuring tool in 2017, as well as the factors that have led to the failure of various pre-packs. This review is led by two leading legal and financial advisors involved in the first pre-packs successfully approved in Singapore. After a general introduction to the primary features of pre-packs, the speakers shared their practical experience handling pre-packs, with particular emphasis on: (i) how and when financially distressed firms should consider a pre-pack; (ii) relevant stages for the implementation of a pre-pack; (iii) information that needs to be prepared by debtors seeking to approve a pre-pack; (iv) creditor protection in pre-packs; (v) role of lawyers and financial advisors in pre-packs; and (vi) general tips to successfully conduct a pre-pack in Singapore.
3rd SMU-Cambridge Roundtable on Corporate Insolvency Law: Implementing a Simplified Insolvency Framework for Micro and Small Enterprises
9 November 2021
8pm - 11pm (Singapore time)
12pm - 3pm (London time)
This event provided an overview of the insolvency reforms for MSEs taking place in many jurisdictions around the globe, including Australia, Colombia, Myanmar, Singapore and the United States. It also analysed the principles and policy recommendations that various studies and international organisations have suggested for the implementation of an efficient insolvency framework for MSEs.
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| Publications |
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Guide on the Treatment of Insolvent Micro and Small Enterprises in Asia
By Aurelio Gurrea-Martínez (Singapore Management University)
Micro and small enterprises (MSEs) represent the vast majority of businesses in all jurisdictions in Asia. Despite the economic relevance of MSEs and the importance of the insolvency process, most Asian jurisdictions do not have insolvency frameworks...
The Future of Insolvency Law in a Post-Pandemic World
By Aurelio Gurrea-Martínez (Singapore Management University)
The COVID-19 crisis has encouraged many countries to amend their insolvency laws. In most cases, these amendments took place temporarily – especially during the hibernation phase of the pandemic. In other countries, however, the pandemic has led to permanent changes in the insolvency...
The Rise of Pre-Packs as a Restructuring Tool: Theory, Evidence and Policy
By Aurelio Gurrea-Martínez (Singapore Management University)
The use of pre-packs as a restructuring tool has been traditionally popular in the United Kingdom and the United States. In recent years, however, several jurisdictions around the world, including Singapore, India, Spain, the Netherlands, and the Philippines have promoted the use of pre-packs. By shortening...
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The Treatment of Debtor-in-Possession Financing in Reorganization Procedures: An Economic and Comparative Approach
A situation of insolvency hinders a firm’s ability to obtain external finance. As a result, viable but financially distressed firms might be unable to keep operating and pursuing value-creating investment projects. Therefore, value can be destroyed for debtors, creditors, employees, suppliers and society...
Building a Restructuring Hub: Lessons from Singapore
This article analyses the legal, market and institutional features needed to become an international hub for debt restructuring. For that purpose, it explores the strategy adopted in Singapore, as well as the market and institutional factors generally found in other leading legal and financial centres. It will be argued that, in jurisdictions traditionally having creditor-oriented insolvency...
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The Singapore International Commercial Court and its role in establishing Singapore as a nodal jurisdiction
By Clayton Chong and Muhammed Ismail Noordin (WongPartnership LLP)
Singapore has made no secret of its ambitions to be an international debt restructuring hub. In recent years, significant legislative changes have been made to refine the tools available for companies restructuring...
The Model Law On Cross-Border Insolvency Turns 25
By Scott Atkins (Norton Rose Fulbright Australia and INSOL International) and John Martin (Norton Rose Fulbright Australia and International Insolvency Institute)
30 May 2022 marks the 25th anniversary of the adoption by the United Nations Commission on International Trade Law (UNCITRAL) of the Model Law on Cross-Border Insolvency (MLCBI). This is a timely opportunity to celebrate the significant...
Insolvency Mediation
By Felicia Tan (TSMP Law Corporation)
The concept of “winner takes all” does not exist in insolvency disputes. But creditors willing to open a communication channel with debtors will do better than litigating...
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| Other Insolvency News |
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GRR Live Singapore 2022
GRR are delighted to announce the return of our GRR Live: Singapore conference, taking place in-person on 24 August. The conference is an excellent chance to explore pressing issues in restructuring and insolvency in Singapore and the region. Bringing together top speakers and delegates from the international insolvency...
Launch of InsolTech by INSOL International and the SGRI
INSOL International is celebrating its 40th birthday by launching a strategic plan to reimagine itself through to 2030, its president Scott Atkins said, as he opened the organisation’s first conference in three years with new initiatives to enhance engagement across Africa...
Publication of the III-ABLI Guide on the Treatment of Insolvent Micro and Small Enterprises in Asia
On 10 May 2022, the Asian Business Law Institute (ABLI) and the International Insolvency Institute (III) jointly released the Guide on the Treatment of Insolvent Micro and Small Enterprises in Asia (Guide), a second output under our joint Asian Principles of Business Restructuring project...
International Insolvency Institute's 22nd Annual Conference
South Building, Metro Toronto Convention Centre
222 Bremner Blvd, Toronto, ON
September 6-7, 2022
Chicago Conference on Judicial Valuation
On behalf of the Center on Law and Finance and The University of Chicago Law School, I am pleased to invite you to our event: The Chicago Conference on Judicial Valuation. This conference, to be held on September 9-10, 2022, at the Gleacher Center in Chicago, will address one of the biggest controversies in law...
UK Corporate Insolvency and Governance Act 2020 - Review
The Corporate Insolvency and Governance Act 2020 (CIGA) came into force on 26 June 2020. The Government committed to a review of the operation of CIGA’s three permanent measures within three years of the CIGA commencement. As part of that review, in September 2021, the University of Wolverhampton...
UK Company Voluntary Arrangement Research Report 2022
The Company Voluntary Arrangement (CVA) was introduced into insolvency law by the Insolvency Act 1986. In recent years, the commercial property sector has raised significant concerns around their use, particularly in the retail and ctasual dining...
FSB Thematic Review on Out-of-Court Corporate Debt Workouts
FSB jurisdictions have adopted a variety of approaches to complement in-court insolvency proceedings and facilitate restructurings through out-of-court debt workout frameworks, including most recently in response to COVID-19...
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