This is the first of a trilogy of articles by WongPartnership’s Restructuring & Insolvency Practice Group, which focuses on issuing practical guidance to insolvency officeholders.
Insolvency officeholders such as judicial managers, liquidators and receivers bear the burden of administering the affairs of companies placed in formal insolvency proceedings, while navigating a complicated web of relationships with creditors, shareholders, directors, employees and other stakeholders. As officers of the court, they must also perform their duties scrupulously and ensure that their behaviour is beyond reproach.
While the court generally accords significant deference to, and will not second-guess, the commercial decisions of insolvency officeholders, it has, on occasion, intervened – for instance, by removing insolvency officeholders from office – to ensure a high standard of conduct.
In Singapore, recent decisions of the General Division of the High Court and the Court of Appeal have provided guidance on how conduct of insolvency officeholders will be evaluated. This article summarises key takeaways from these decisions for liquidators, judicial managers and receivers or receivers and managers.
If you would like information and/or assistance on the above or any other area of law, you may wish to contact the Partner at WongPartnership whom you normally work with or any of the following Partners:
Joel CHNG
Partner – Restructuring & Insolvency and Special Situations Advisory
d +65 6517 8707
e joel.chng@wongpartnership.com
Click here to view Joel’s CV.
Daniel LIU
Partner – Restructuring & Insolvency and Special Situations Advisory
d +65 6416 2470
e zhaoxiang.liu@wongpartnership.com
Click here to view Daniel’s CV.
TAN Kai Yun
Partner – Restructuring & Insolvency and Special Situations Advisory
d +65 6416 6869
e kaiyun.tan@wongpartnership.com
Click here to view Kai Yun’s CV.
Clayton CHONG
Partner – Restructuring & Insolvency and Special Situations Advisory
d +65 6416 2472
e clayton.chong@wongpartnership.com
Click here to view Clayton’s CV.
Adnaan NOOR
Partner – Restructuring & Insolvency and Special Situations Advisory
d +65 6416 2477
e adnaan.noor@wongpartnership.com
Click here to view Adnaan’s CV.
Eden LI
Partner – Restructuring & Insolvency and Special Situations Advisory
d +65 6517 3766
e eden.li@wongpartnership.com
Click here to view Eden’s CV.
Muhammed Ismail NOORDIN
Partner – Restructuring & Insolvency and Special Situations Advisory
d +65 6517 3760
e muhammedismail.konoordin@wongpartnership.com
Click here to view Ismail’s CV.