In the news – MinLaw extends application period for Simplified Insolvency Programme to January 2024 (Business Times)
Read on for the Business Times article on the Ministry of Law’s (MinLaw) announcement of the final extension of the application period for the Simplified Insolvency Programme (“SIP”), which was due to close on 28 July 2022. The deadline is extended for a period of 18 months to 28 January 2024.
The SIP is composed of two separate programmes – the Simplified Debt Restructuring Programme (“SDRP”) and the Simplified Winding Up Programme. The SDRP is aimed at assisting micro and small companies restructure their debt and rehabilitating their businesses via a simpler, faster and lower cost “pre-packaged” scheme of arrangement mechanism.
DHC Capital was selected by the Ministry of Law to be on the Panel of Restructuring Advisors for the provision of case administration services for micro and small companies undergoing debt restructuring under the SIP.