Singapore has seen developments as a restructuring hub in Asia, offering a robust legal framework and a pragmatic judiciary supporting complex, cross¬border corporate restructurings. Recent decisions which have shaped Singapore's restructuring jurisprudence include the first pre-pack scheme to be sanctioned by the Singapore International Commercial Court (SICC) in No Va Land (NVL), the recognition of an Indonesian PKPU in Singapore in PT Garuda and recently, the first successful cross-class cram down (CCCD) in GP Global APAC.
Looking ahead, Singapore is considering reforms to its CCCD regime which could potentially enhance its appeal as a restructuring forum.
This article was first published in the August 2025 edition of Turnarounds & Workouts.
