Singapore legislation
Section 89
Section 89
Purpose of judicial management and judicial manager
(1)
The judicial manager of a company must perform the judicial manager’s functions to achieve one or more of the following purposes of judicial management:
the survival of the company, or the whole or part of its undertaking, as a going concern;
the approval under section 210 of the Companies Act 1967 or section 71 of a compromise or an arrangement between the company and any such persons as are mentioned in the applicable section;
a more advantageous realisation of the company’s assets or property than on a winding up.
(2)
A judicial manager or an interim judicial manager of a company must perform the functions of the judicial manager or interim judicial manager in the interests of the company’s creditors as a whole.
(3)
A judicial manager or an interim judicial manager of a company must perform the functions of the judicial manager or interim judicial manager as quickly and efficiently as is reasonably practicable.
(4)
A judicial manager or an interim judicial manager of a company is an officer of the Court (whether or not the judicial manager or interim judicial manager is appointed by the Court).