Singapore Court Sets Out Approach to Applications for an Intended Scheme by Several Companies in the Same Group
28 December 2018
Re IM Skaugen SE  SGHC 259 (27 November 2018) is an important first decision on the moratorium provisions of the new scheme of arrangement sections of the Companies Act. The High Court had a practical commercial approach to considering individual applications by related companies seeking to develop a group restructuring plan. It also made clear that even if no compromise had been put to creditors for their support, the company still had to show creditor support for the moratorium.