When a Singapore private company wants to issue new shares, most directors treat it as a routine administrative step: pass a resolution, allot the shares, file the return with ACRA, done. In practice, the Companies Act 1967 imposes a strict procedural gate on that power, and getting it wrong does not just create a paperwork [...]
Section 239 of the IRDA lets a liquidator hold directors personally liable for a company's debts if it kept trading with no reasonable prospect of paying them. Here's how the process works and what defences exist.
When a Singapore company goes into liquidation, its liquidator inherits every contract and every piece of property the company held, including the bad ones. An unprofitable lease on premises the business no longer needs, a supply contract locked in at above-market rates, or shares in a subsidiary that costs more to maintain than it is [...]
A court order against a Singapore company is only as good as the company's willingness to obey it. When a company simply ignores a court order, whether it is an order to hand over documents, a Mareva injunction freezing assets, or a judgment debt, the applicant's remedy is not to sue the company again. It [...]
When a Singapore company collapses into liquidation, the question every stakeholder asks is the same: who gets paid, and in what order? The answer is not a matter of negotiation or goodwill. It is fixed by statute. The Insolvency, Restructuring and Dissolution Act 2018 (the "IRDA") sets out a rigid statutory sequence, often called the [...]
A director who has been shut out of the company's books rarely finds out gently. It usually happens in the middle of a falling-out with a co-director: the accounts software password stops working, the bookkeeper is instructed not to send anything without the other director's sign-off, or the registered office simply stops answering requests. For [...]
When a Singapore company is in genuine financial distress but its directors believe the business can still be saved, liquidation is not the only path available. Judicial management offers a court-supervised alternative: a temporary breathing space in which an independent, licensed insolvency practitioner takes control of the company, shields it from creditor action, and works [...]
When a Singapore company can no longer pay its debts as they fall due, its directors and creditors are often confronted with a stark choice: let the company be wound up, or find a way to keep it alive long enough to restructure. Judicial management is the statutory rescue mechanism Parliament built for exactly this [...]
A scheme of arrangement is one of the most powerful and flexible tools available under Singapore law for restructuring a company's debts, effecting a merger or acquisition, or reorganising a corporate group. Authorised by statute and sanctioned by the High Court, a successful scheme binds every member of an affected class — even those who [...]
Section 216 of the Companies Act (Cap. 50) is the single most important statutory remedy for minority shareholders in Singapore. Where a majority shareholder or the company's affairs are being conducted in a manner that is unfairly discriminatory or oppressive to the minority, Section 216 empowers the court to grant wide-ranging relief — including compelling [...]