DHC Capital’s submission in response to the Australian Government consultation paper “Helping Companies Restructure by Improving Schemes of Arrangement” published on The Treasury website
DHC Capital’s submission dated 9 September 2021 was published on the Australian Government (The Treasury) (“The Treasury”) website in March 2022.
DHC Capital’s submission provides comments on the use of creditors’ schemes of arrangement for the purpose of debt restructuring, automatic creditor moratoriums, debtor-in-possession rescue financing and pre-packaged schemes of arrangements based on our experience in Singapore following the introduction of major reforms to the debt restructuring regime in the Companies (Amendment) Act 2017, which came into effect on 23 May 2017 and was incorporated into the Insolvency, Restructuring and Dissolution Act 2018 (“IRDA”), which came into effect on 30 July 2020.
About The Treasury Consultation Paper
On 2 August 2021, The Treasury issued a consultation paper seeking submissions from market participants to improve creditors’ schemes of arrangement in Australia. The submission process closed on 10 September 2021 and the submissions were published on The Treasury website in March 2022.