In 2016 the Ministry of Law unveiled plans to strengthen Singapore as an international centre for debt restructuring. Pursuant to these plans, numerous complex legislative changes were introduced to Singapore’s debt restructuring and insolvency laws. These changes primarily related to the 2017 amendments to the Companies Act (Cap 50).
Instead of addressing all of the relevant legislative changes to Singapore’s debt restructuring and insolvency laws, this article focuses on Singapore’s experience of transplanting the US Chapter 11 debtor-in-possession financing (DIP financing) provisions into the 2017 amendments to the Companies Act.
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