Singapore

Corporate Restructuring and Insolvency

Expanding your options beyond winding up

Corporate reorganisations, debt-restructurings, informal work-outs and formal insolvency procedures are increasingly being adopted by businessmen and creditors today. They realise that there are more options to deal with a business that is not doing well financially than just winding it up. Such alternative solutions often offer mutual benefits to all parties involved.

Financial difficulty, often the beginning of business failure, does not happen only in a recession. Even when the economy is doing well, various other reasons can also give rise to financial crises, such as fraud, mismanagement, competition and product obsolescence.

During such financially trying times, parties including creditors, lawyers, credit executives, financial institutions and businessmen may turn to us to undertake formal appointments or turnaround services.

Liquidators / Provisional Liquidators
  • Whether it is a situation of a company intending to wind down its business in an orderly manner or that of a creditor seeking to protect his interests, we are able to act as liquidators in both compulsory and voluntary winding up.
Judicial Managers / Interim Judicial Managers
  • Judicial management is a corporate rescue regime which gives companies under financial distress an opportunity to rehabilitate by providing a temporary shield from legal proceedings by third parties. As an independent professional, we can act as the Judicial Managers / Interim Judicial Managers to manage the affairs, business and property of a company and lead the company towards a restructuring process.
Receivers / Receivers & Managers
  • Where a loan is secured by a debenture and the lender wishes to protect its security position and interests, he may appoint us as receivers or receivers and managers. We may similarly be appointed by the court, where the court considers that the interests of justice require it.
Scheme Managers / Administrators
  • A debtor under pressure from creditors can turn to us to work out a compromise or arrangement with its creditors via Schemes of Arrangement under Section 210 of the Companies Act, Cap 50. We assist the debtor companies in drawing up a restructuring proposal to be tabled to the creditors for approval. Once the Scheme of Arrangement is approved, we can continue to assist in the implementation of the approved plan.
Receivers of Income
  • Such appointments are made by mortgagees pursuant to Section 24 of the Conveyancing and Law of Property Act (Cap 61). As a receiver of income, we would collect all rental income accruing to the mortgaged properties for the benefit of the mortgagee.
Agents for Mortgagee-in-Possession
  • Where the mortgagee has entered into the possession of the mortgaged property, we may be appointed as agents for the mortgagee-in-possession for the purpose of managing the mortgaged property.

 

OUR SPECIALISTS

chee-yoh-chuang - Copy.png

Chee Yoh Chuang
Senior Partner
 

T: +65 6594 7828
E: ycchee@RSMSingapore.sg

lin-yueh-hung - Copy.pngLin Yueh Hung 
Partner

T: +65 6715 1128
E: yhlin@RSMSingapore.sg