Many companies are currently facing financial stress as the economic impact from the Covid-19 pandemic continues to take its toll. While temporary relief measures have been introduced to help distressed companies affected by the pandemic, these measures will gradually be phased out. What available options under our restructuring laws can companies rely on for relief that do not involve having to go to court?
Our Restructuring & Insolvency Practice lawyers Smitha Menon, Clayton Chong, and Sean Lee share their views in an article on out-of-court insolvency relief mechanisms in Singapore such as pre-pack schemes, out-of-court judicial management and mediation which companies in financial distress can consider utilising for longer term relief.
This article first appeared in the Q1 2021 issue of the SID Directors Bulletin published by the Singapore Institute of Directors.
Click on the link below to read the full article.