SINGAPORE – A new law to consolidate Singapore’s personal bankruptcy and corporate insolvency regimes will be introduced in 2018, to further boost the Republic’s status as a leading centre for cross-border debt restructuring, Home Affairs and Law Minister K. Shanmugam said on Thursday (Aug 24).
The omnibus Insolvency Bill, which is expected to be enacted in the second half of 2018, will streamline and update the laws to provide consistency and clarity, said Mr Shanmugam, who was speaking at the start of the Singapore Insolvency Conference 2017.
Currently, the provisions can be found in two separate statutes: the Bankruptcy Act and the Companies Act.
The new Bill will also implement the remaining recommendations of the Insolven…
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