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Hogan Lovells partners riff on redesigned Singapore insolvency law

13 July 2017

Debtwire Radio

Hogan Lovells business restructuring and insolvency practice partners Ron Silverman, Robin Keller, and Shaun Langhorne recently joined Debtwire senior legal content specialist Richard Goldman to discuss some “game-changing” revisions to Singapore’s insolvency regime. During the discussion, the panel discusses how Singapore, in an effort to market itself as an international forum for debt restructurings, transformed its restructuring laws from a creditor-based tool premised on English insolvency statutes into a debtor-friendly system more akin to Chapter 11 of the U.S. Bankruptcy Code. The panel also breaks down some key concepts that, while common to U.S. restructurings, were completely foreign to Singapore insolvency proceedings, including automatic moratoriums against creditor self-help, postpetition DIP or rescue financing, cramdown availability and enhanced disclosure requirements. Finally, the panel provides notable considerations that practitioners and investors should take into account when navigating this yet-to-be tested regime.

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