Why help distressed businesses?

In 2021, Singapore's High Court facilitated the remarkable turnaround of Pacific International Lines (PIL) from the brink of bankruptcy to a $2.6 billion profit within a year.

This success underscores Singapore's pro-restructuring stance, aiming to rescue failing businesses in a complex global landscape. In a recent talk, Justice Kannan Ramesh highlighted the importance of distancing stigma from business failure and fostering a balanced approach that protects creditors while allowing viable businesses to rehabilitate under court supervision.

Discover how Singapore's restructuring process encourages out-of-court arrangements and the need for a robust debt-trading market to facilitate rescue financing for distressed firms.

Article by Rachel Chia for ST. Read more here or in the PDF below.

Why help distressed businesses_ Courts offer 'rehab' for companies in a troubled world _ T.

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