Singapore eyes position as global debt restructuring hub

SINGAPORE (Aug 4): Singapore’s regulatory landscape will be seeing some changes in the months to come.

The nation’s Insolvency Law Review Committee in 2013 recommended to update the country’s insolvency laws, noting that the demand for debt-restructuring services in Asia was growing. As a result, the Committee to Strengthen Singapore as an International Centre for Debt Restructuring was set up to consider how Singapore could meet that demand.

Comprising a team of insolvency practitioners, the committee is co-chaired by Senior Minister of State, Ministry of Law and Ministry of Finance, Indranee Rajah, as well as Judicial Commissioner Kannan Ramesh.

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