SMU Lexicon: Singapore’s Approach Towards Adopting the Multi-Factorial Approach in Insolvency Proceedings
Business,Insolvency,Investments,Legal Updates

Reading Time: 5 minutesIntroduction In cross-border insolvency, there are two contrasting approaches. On the one hand, there is the territorial approach, focused primarily on the interest of the local creditors.[1] On the other, there is the universal approach, where one court leads the administration of the insolvency proceedings, and other courts cooperate with the main action.[2] For the […]

Vietnam: When subsidiaries go bankrupt – can creditors “seek compensation” from parent companies?
Business,Business Advice,Regional Law,Vietnam

Reading Time: 6 minutesIt is normal and recommended to allow a subsidiary which operates ineffectively and falls into insolvency to go bankrupt for the sake of a healthy business environment. However, except for subsidiaries which are only the front companies to conceal non-transparent or illegal business activities of parent companies, the bankruptcy of an enterprise causes losses to […]

Dealing with bankruptcy woes
Bankruptcy,Personal

Reading Time: 4 minutesJust being handed a bankruptcy order and feeling helpless? Or stuck in bankruptcy for a while now and trying to get out? Don’t panic yet! With the amendments to the Bankruptcy Law previously on 1 August 2016 , have you had time to relook at whether you can escape your current bankrupt state since then? […]