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International Corporate Rescue

Journal Issues

  • Vol 1 (2004)
  • Vol 2 (2005)
  • Vol 3 (2006)
  • Vol 4 (2007)
  • Vol 5 (2008)
  • Vol 6 (2009)
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  • Vol 15 (2018)
  • Vol 16 (2019)
  • Vol 17 (2020)
  • Vol 18 (2021)
  • Vol 19 (2022)
  • Vol 20 (2023)
  • Vol 21 (2024)
  •         Issue 1
  •         Issue 2
  •         Issue 3
  •         Issue 4
  •         Issue 5
  •         Issue 6
  • Vol 22 (2025)

Vol 21 (2024) - Issue 4

Article preview

A Case Review of the Singapore Court of Appeal’s Decision in Ascentra Holdings, Inc (in official liquidation)

Keith Han, Partner and Head, Restructuring & Insolvency Practice, and Angela Phoon, Senior Associate, Oon & Bazul LLP, Singapore

Synopsis
Ascentra Holdings, Inc (in official liquidation)1 concerned an application to the Singapore Court for recognition of a solvent liquidation in the Cayman Islands. The Court of Appeal granted recognition and held that Article 2(h) of the Singapore Model Law should be interpreted broadly to include within its ambit foreign proceedings concerning companies that are neither insolvent nor in severe financial distress. This is consistent with the position taken by the US Bankruptcy Court in, among others, Re Betcorp.

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International Corporate Rescue

"International Corporate Rescue is the ultimate legal and commercial guide through the maze of complex cross border insolvency and restructuring issues."

William Q Derrough, Managing Director and Co-head of Recapitalization & Restructuring Group, Moelis & Company, New York

 

 

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