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The Simplified Insolvency Programme: Staying Afloat in Difficult Times

Mohan Gopalan & Cheng Yu Ning Teri

[2021] SAL Prac 30

The Simplified Insolvency Programme was introduced to allow micro and small companies easier access to restructuring and winding up in the light of the financial impact which COVID-19 has had on various businesses. This article will cover the eligibility requirements for two programmes under the Simplified Insolvency Programme – the Simplified Debt Restructuring Programme and Simplified Winding Up Programme – and provide a step-by-step guide on how these processes will work and how they differ from their traditional counterparts.