The High Court of England and Wales has recognised Singapore’s new moratorium law, further solidifying the region’s position as a restructuring and insolvency hub.
Introduced in 2017, section 211B of the Companies Act deals with the enhanced moratorium in relation to a court-sanctioned arrangement or compromise between a company and its creditors when the former is in distress or insolvent, making it easier for companies to be rescued.
Key individuals involved in the acceptance of this law include Patrick Ang of Rajah & Tann, David Grant and Marc Abrahams of Locke Lord and Jennifer Meech of Enterprise Chambers.