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Opposition politician avoids bankruptcy over loan

Opposition politician avoids bankruptcy over loan

A bankruptcy application taken against opposition politician Lim Tean by a Shanghai businessman over a US$150,000 (S$203,000) loan was formally withdrawn in the High Court yesterday.

Categories: Headlines

Singapore High Court confirms permissibility of litigation funding for insolvency claw-back claims in context of bankruptcy

In Re Fan Kow Hin, the SHC held that funding agreements that have the effect of assigning and selling a proportion of the benefits or proceeds of insolvency claw-back claims are permissible in the context of bankruptcies.

Hyflux plan could see heavy losses for investors

Hyflux plan could see heavy losses for investors

Beleaguered firm says investors and creditors would get less if it were to go into liquidation.

Categories: Headlines
Hyflux can gain up to $258m working capital

Hyflux can gain up to $258m working capital

Decision lies with investors voting on deal that will see 60% of firm's share capital going to consortium.

Categories: Headlines
Chinese businessman withdraws bankruptcy application against Lim Tean

Chinese businessman withdraws bankruptcy application against Lim Tean

The withdrawal of the bankruptcy application clears the way for Mr Lim Tean to take part in the next General Election, which is due by early 2021.

Categories: Headlines
SIAS queries Hyflux chief Olivia Lum and board on remuneration, operations

SIAS queries Hyflux chief Olivia Lum and board on remuneration, operations

It seeks answers to long list of queries to help securities holders make an informed decision in relation to company's restructuring.

Categories: Headlines
Hyflux creditors asked to file proof of claims by Feb 15

Hyflux creditors asked to file proof of claims by Feb 15

To those upset by the timing, Hyflux says the law calls for this to be done at the time of restructuring.

Categories: Headlines

Singapore’s new “omnibus” Insolvency, Restructuring and Dissolution Bill

We discuss the key changes, and examine what the latest amendments mean for creditors, debtors and other stakeholders.

Developments in Restructuring & Insolvency in 2018

In 2018, the legal advancements in Restructuring & Insolvency have been swift and significant. This update looks at some of the noteworthy developments.

Supreme Court Case Summary: SCK Serijadi Sdn Bhd v Artison Interior Pte Ltd [2019] SGCA 05

CA holds that a judgment creditor does not become a secured creditor by virtue of having served a garnishee order nisi on a garnishee before a judgment debtor is placed under winding up.

A last resort legal option for a trustee in bankruptcy?

This article discusses the legal basis for a Trustee in Bankruptcy to apply to Court for a forced-sale order of a private property that is co-owned by a bankrupt, where the other co-owners are unable/refuse, to buy out the bankrupt’s interest in the property, and also refuse to sell the property in the open market. 

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.

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

Re Aathar Ah Kong Andrew [2018] SGHC 227

Insolvency Law — Bankruptcy

Yashwant Bajaj v Toru Ueda [2018] SGHC 229

Insolvency Law — Bankruptcy
190124-190223 Rockwills
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