INSOLVENCY & RESTRUCTURING

Drawing from our extensive expertise in the field of commercial litigation and acting across the table both for and against distressed companies and insolvency practitioners, our Insolvency & Restructuring practice consistently achieves the best possible results for our clients.

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The team provides sound, pragmatic advice with a view to effectively resolving issues and disputes which may arise in any insolvency or restructuring. 

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Our lawyers are experienced in working with clients in a broad range of fields and industries, enabling us to capture and appreciate our client’s commercial concerns and address the same in our proposed solutions.  We are also practiced in working with and instructing accounting firms to assist our clients with the liquidation or restructuring process.

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Corporate Insolvency

We take the lead in advising on the liquidation process, and work closely with clients to consider the most appropriate options in the circumstances presented.

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Our lawyers have applied for and resisted compulsory liquidation in respect of insolvent companies, including contested winding up applications before the General Division of the High Court.

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Schemes of Arrangement

Our team is able to advise on the appropriateness of schemes of arrangements as a mode of restructuring, the requirements for an application for leave for a creditors’ meeting, classification of creditors and the calling and conduct of the creditors’ meeting, and the application for court sanction of the scheme.

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Judicial Management

Judicial management by court order or a resolution of the company’s creditors is an option where this avenue could provide a more effective method to preserve the company or would be in the interests of the creditors.  We are well-versed with judicial management and are able to advise and assist on the steps to be taken in the process as well as in applications to court for a judicial management order (including resisting such applications).

Personal Insolvency / Bankruptcy

We work with financial institutions and creditors in personal insolvency proceedings, including the early process of drafting and issuing of statutory demands, as well as commencing bankruptcy proceedings.

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Assisting clients in navigating the process of voluntary self-declaration of bankruptcy, as well as the discharge or annulment of bankruptcy orders, is an area of our expertise.

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Advisory

Our lawyers work closely with liquidators to provide advisory on a multitude of issues which arise during the liquidation process and asset recovery, including but not limited to disputed assets and claims, and queries from the Insolvency & Public Trustee's Office, as well as applications for discharge and release.

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Debt and Asset Recovery

We also provide general advice on debt and asset recovery during the liquidation process, including examining former officers of insolvent companies.

Below are highlights of the experience that our Insolvency & Restructuring team has built up:

• Represented and advised liquidators during the liquidation process on disputed claims and asset recovery, including correspondence with debtors, and examination of former officers of the insolvent companies.

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• Successfully resisting a compulsory winding up application on grounds that the application was improperly commenced in conjunction with ongoing proceedings for a disputed construction claim.

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• Advised clients on creditors’ rights in the liquidation process, including the rights of a landlord post-termination of a tenancy, proof of debt, and ranking and distribution.

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• Acted and advised the receivers of one of the wholly owned subsidiaries of a Singapore based commodities trader in relation to a contentious and complex dispute over the control and management of another subsidiary that involved the validity and enforceability of a share charge.

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• Acted and advised the liquidators of a Singapore based company in relation to approval of a litigation funding arrangement for assigning the cause of action to a third party litigation funder under ss 273(3) and 272(2)(c) of the Companies Act 1967.

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