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Voluntary arrangements in bankruptcy – extension and revocation

In Re Aathar Ah Kong Andrew [2018] SGHC 227, the SHC held that it did not have the power to grant an extension of the interim stay order.

Noble may seek court-appointed administration in Britain after Singapore authorities block relisting: board reiterates

Noble may seek court-appointed administration in Britain after Singapore authorities block relisting: board reiterates

MAS and SGX barred the relisting of New Noble just two weeks after the Singapore police, the MAS and the Acra jointly announced that they were looking into suspected offences by Noble and a key subsidiary.

Categories: Headlines

Re Fan Kow Hin [2018] SGHC 257

Insolvency Law — Bankruptcy

Re IM Skaugen SE and other matters [2018] SGHC 259

Companies — Schemes of arrangement

Companies — Schemes of arrangement
EY's audits on Noble unit under review

EY's audits on Noble unit under review

Commercial Affairs Department and the Monetary Authority of Singapore have directed EY to produce documents in relation to the audit of Noble.

Categories: Headlines
Court extends Hyflux debt moratorium to end of April 2019

Court extends Hyflux debt moratorium to end of April 2019

By January next year, Hyflux plans to apply to the court to summon a meeting of its creditors to propose a scheme of arrangement. Creditors will be split into respective classes to vote.

Categories: Headlines
Hyflux says it hasn't finalised terms of debt revamp after some lenders reject first draft proposal

Hyflux says it hasn't finalised terms of debt revamp after some lenders reject first draft proposal

It wants two months to sound out all stakeholders before presenting restructuring plan to creditors' vote.

Categories: Headlines
Noble Group's US$3.5b restructuring deal now hangs in the balance

Noble Group's US$3.5b restructuring deal now hangs in the balance

Firm to cooperate fully with the Singapore authorities as it works to implement $4.8b debt deal.

Categories: Headlines

Lessons from the Jurong Aromatics case: non-assignment, crystallisation and set-off

The case of Jurong Aromatics Corp Pte Ltd (receivers and managers appointed) and others v BP Singapore Pte Ltd and another matter [2018] SGHC 215 is significant as it makes important distinctions.

China sportswear manufacturer is the first foreign company to be placed under judicial management in Singapore

The case is the first of its kind under the new amendments to the Companies Act introduced in 2017, which extended Singapore’s judicial management regime to foreign companies.

Re Aathar Ah Kong Andrew [2018] SGHC 227

Insolvency Law — Bankruptcy

Yashwant Bajaj v Toru Ueda [2018] SGHC 229

Insolvency Law — Bankruptcy

Supreme Court Case Summary: Douglas Foo Peow Yong v ERC Prime II Pte Ltd and another appeal and other matters [2018] SGCA 67

CA allowed the winding up of ERC Prime II and Gryphon Real Estate Investment Corporation on the basis that the applicants had justifiably lost confidence in the management of these companies.

Voting rights of bondholders and trustees in restructuring proceedings

In Re Swiber Holdings Ltd [2018] SGHC 211, the SHC dealt with novel issues arising from when the bond issuer enters judicial management, or seeks  a to restructure its debt in a scheme of arrangement.

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