The Insolvency, Restructuring and Dissolution Act 2018 (“IRDA“) allows a company proposing or intending to propose a scheme of arrangement to its creditors to apply to Court for a moratorium restraining proceedings against the company. The Court may also extend the moratorium on application to cover a subsidiary or holding company.
The Supreme Court of Singapore has issued a Guide for the Conduct of Applications for Moratoria under Sections 64 and 65 of the IRDA (“Guide“), setting out the case management features and specialist practices for such applications. The Guide came into effect on 15 February 2021. This Update summarises and highlights the key features of the Guide.
For more information, click here to read the full Legal Update.
