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Lessons for the Development of Singapore’s International Insolvency Law

Wee Meng Seng

(2011) 23 SAcLJ 932

This article argues that Singapore’s international insolvency law is outdated and makes some suggestions for its reform. Drawing on the established conflicts methodology of choice of jurisdiction and choice of law, it gives a new exposition of the theories of universalism and territorialism. This forms the backdrop to an examination of the history of the ring fencing provision of s 377(3)(c) of the Companies Act and recent international developments. The article contends that, from both theoretical and practical perspectives, it is in Singapore’s interest to repeal s 377(3)(c) and enact the UNCITRAL Model Law on Cross-Border Insolvency.