Hosted by the Legal & IPR and Financial Services Committees

Debt restructuring work has been on the rise and this trend is expected to continue in the immediate future. While Asia’s long-term economic prospects remain positive, cyclical headwinds will affect certain sectors. Non-bank borrowers will have to repay US$281.7 billion (Asia) and US$27 billion (Singapore) over the next 4 years.

Globalization has led to more businesses with international presence, but cross-border debt restructuring work frequently centers in a single “lead” jurisdiction. Given Singapore’s location in the heart of Asia and its position as a global financial, business and legal hub, it took initiatives to position itself as a centre for international debt restructuring.

In 2013, the first Insolvency Law Review Committee was formed which highlighted the opportunities for Singapore as a center for international debt restructuring. The Committee to Strengthen Singapore as an International Centre for Debt Restructuring was also set up. This Committee published its recommendations on strengthening Singapore’s restructuring ecosystem in April last year.

Amendments were made to the Companies Act to enhance Singapore’s debt restructuring framework made based on the recommendations of both Committees. The Companies Act amendments took effect on 23 May 2017.

The talk will discuss Singapore’s new bespoke restructuring regime and how the recent Companies Act amendments are a game changer that brings Singapore to the next level.

About the Speaker

Blossom Hing
Director
Corporate Restructuring & Workouts/Dispute Resolution
Drew & Napier LLC

Blossom’s practice is focused on debt restructuring and insolvency work. She is also actively involved in court (appearing before the Singapore High Court and Court of Appeal) and arbitration (SIAC, LCIA, HKIAC and IICRA) work, handling contentious commercial, shareholder, employment and other disputes.

She works extensively with clients based in Indonesia, China, Hong Kong, the US and Europe as well as Singapore. Blossom has been recognized in Asia Pacific Legal 500, Chambers Asia-Pacific, IFLR1000, Asialaw Leading Lawyers, Asialaw Profiles and Best Lawyers International for her dispute resolution and restructuring/insolvency work.