Clifford Chance
Singapore High Court finds that foreign liquidators appointed in a voluntary liquidation abroad can be recognised in Singapore
17 January 2017
The Singapore High Court held, in Re Gulf Pacific Shipping Ltd (in creditors' voluntary liquidation) and others [2016] SGHC 287, that liquidators appointed in a foreign voluntary liquidation can be recognised in Singapore, and that there should not be any distinction drawn between voluntary and compulsory liquidations.
In coming to its decision, the Singapore Court reiterated its philosophical commitment to an internationalist (rather than territorial) approach towards cross-border insolvencies.
