Category: Corporate & Legal

A recent Singapore High Court decision is a reminder that a personal guarantee can become a personal debt. What Happened A doctor promoted to medical director of an aesthetics clinic signed a deed of guarantee for the clinic’s S$600,000 loan. When the clinic stopped repaying, the lender called on the guarantee. The court rejected his…

A recent Singapore court case shows that company funds cannot be withdrawn freely when a business is in financial difficulty. What Happened A business owner withdrew about S$1.18 million through dividends and shareholder loan repayments after his company began facing a customer’s legal claim. The company later became insolvent and was wound up. The liquidators…

The Simplified Liquidation Programme (SLP), administered by the Insolvency and Public Trustee’s Office (IPTO), has been extended beyond its original COVID-19 sunset and refined to keep it focused on small, straightforward insolvencies. Key Revisions Extended: SLP continues as a simpler, lower-cost alternative to a standard creditors’ voluntary liquidation under the IRDA. Tighter eligibility: The S$2…