Acceptance of Recommendations by the Committee to Enhance Singapore's Corporate Restructuring and Insolvency Regime Following Public Consultation

14 May 2026 Posted in Press releases

1. The Ministry of Law (MinLaw) has reviewed and broadly accepted the recommendations of the Committee to Enhance Singapore’s Corporate Restructuring and Insolvency Regime (the “Committee”). This follows MinLaw’s conclusion of the assessment of all the feedback received, including a four week-long public consultation, on the recommendations submitted by the Committee in March 2025 (“Recommendations”).

2. In implementing the Recommendations, MinLaw will make suitable refinements and adjustments that take into account the feedback from the consultation.

The Committee’s Recommendations

3. The Committee on 11 March 2025 published its report (“Report”), detailing its views, perspectives and recommendations on proposed amendments to further enhance Singapore’s corporate debt restructuring and insolvency framework.

4. The Committee’s Recommendations address four broad categories:

a. Strengthening the judicial management regime;

b. Refining the cross-class cramdown in schemes of arrangements;

c. Refining the framework and tools for efficient debt restructurings; and

d. Adopting the UNCITRAL Model Law on Enterprise Group Insolvency and the UNCITRAL Model Law on Recognition and Enforcement of Insolvency-Related Judgments.

5. The Committee’s Report setting out its recommendations can be found at https://www.mlaw.gov.sg/files/RI_Committee_Report__11Mar2025_.pdf.

Public Consultation

6. MinLaw held a public consultation from 11 March 2025 to 8 April 2025 on the Committee’s Recommendations and received ten written responses. Concurrently, MinLaw also engaged with close to thirty stakeholders in focus group discussions from the turnaround, restructuring, legal, accounting and banking sectors.

7. Respondents were broadly supportive of the Committee’s Recommendations. Their feedback on the Committee’s proposed amendments to strengthen Singapore’s restructuring and corporate rescue framework, and on the underlying policy objectives, was generally positive. Respondents also submitted suggestions on implementing the Committee’s Recommendations, and on how the Committee’s Recommendations could be adapted or refined during such implementation to achieve the underlying policy objectives.

8. MinLaw carefully studied all the feedback. MinLaw also further engaged some respondents to seek clarifications on their suggestions, to understand and evaluate the feedback comprehensively. Relevant feedback and suggestions will be taken into account, where appropriate, when implementing the Committee’s Recommendations.

Conclusion

9. MinLaw would like to thank the Committee for their Recommendations, and stakeholders and respondents for their feedback during the public consultation. These Recommendations, when implemented, will further strengthen Singapore’s corporate debt restructuring and insolvency ecosystem.

MINISTRY OF LAW
14 MAY 2026

Last updated on 14 May 2026