Public Consultation on the Report of The Committee to Enhance Singapore's Corporate Restructuring and Insolvency Regime

11 MAR 2025
  1. The Committee to Enhance Singapore’s Corporate Restructuring and Insolvency Regime (the “Committee”) has on 11 March 2025 published its report (the “Report”), detailing its views, perspectives and recommendations on proposed amendments to further enhance Singapore’s corporate debt restructuring and insolvency (“R&I”) framework.
  1. The Ministry of Law welcomes the Report and will be carefully reviewing the recommendations. To assist with this review, the Ministry will be conducting a 4-week public consultation on the Committee’s recommendations that will run from 11 March to 8 April 2025.

Singapore’s Corporate Debt Restructuring and Insolvency Regime

  1. Singapore’s R&I framework has undergone significant transformation in the last decade. These reforms modernised Singapore’s R&I regime. Its increasing use, in particular with successful restructurings, supports Singapore’s broader economy and position as an international centre for business, finance, and law.

The Committee

  1. The R&I framework was last amended in 2018 and it was considered timely to conduct a review to assess the same. In this context, the Committee was tasked to consider measures to further enhance Singapore’s R&I framework, and to attract even more international users to utilise this regime. The Committee was constituted by representatives drawn from across the corporate R&I ecosystem in legal, banking and finance industries with domestic and international practices, as well as academia, and members of the Government.
  1. The Committee has made a total of 9 recommendations, which fall into four broad categories:
  • Strengthening the judicial management regime;
  • Refining the cross-class cramdown in schemes of arrangements;
  • Refining the framework and tools for efficient debt restructurings; and
  • Adopting the UNCITRAL Model Law on Enterprise Group Insolvency and the UNCITRAL Model Law on Recognition and Enforcement of Insolvency-Related Judgments.

Public Consultation

  1. Members of the public are invited to share their views on the Committee’s report. Interested parties may view the Committee’s report (Committee report) and submit feedback in electronic form: Public Consultation Feedback.