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Schemes of arrangement as a corporate rescue mechanism: The Singapore experience
Author(s) -
Chan Tracey Evans
Publication year - 2009
Publication title -
international insolvency review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.125
H-Index - 7
eISSN - 1099-1107
pISSN - 1180-0518
DOI - 10.1002/iir.165
Subject(s) - de facto , possession (linguistics) , mechanism (biology) , debtor , business , process (computing) , law and economics , computer science , political science , sociology , law , finance , epistemology , creditor , philosophy , debt , linguistics , operating system
This paper reviews the use of schemes of arrangement (SOA) in Singapore as a corporate rescue mechanism, and argues that a number of features have contributed to its emergence as a de facto debtor‐in‐possession regime. It also offers some suggestions on how this organic process can be further enhanced without unduly prejudicing the interests of stakeholders. Copyright © 2009 John Wiley & Sons, Ltd.