The Singapore International Commercial Court (SICC) has amended its rules to hear cross-border restructuring and insolvency matters, which took effect on 1 October, aiming to enhance the island country as an international debt restructuring hub.
The key changes made by the Singapore International Commercial Court (Amendment No. 2) Rules 2022 are an amendment to Order 21 of the Singapore International Commercial Court Rules 2021 (SICC Rules) and the addition of a new order 23A of the SICC Rules.
These changes introduce new processes in the SICC relating to corporate insolvency, restructuring or dissolution proceedings that are international and commercial in nature, and offer restructuring outcomes that would appeal to both debtors and …
Read the full article at: https://law.asia/cross-border-corporate-insolvency-new-rules/