Singapore legislation

Section 93

of Insolvency, Restructuring and Dissolution Act 2018

Section 93

Restrictions on acts of company pending hearing of judicial management application

At any time during the period between the making of a judicial management application and the determination of the application, the Court may, on the application of any creditor of the company —

(a)

make an order to require or restrict any act of, or the exercise of any powers of, the company pending the determination of the application; or

(b)

make either or both of the following orders, each of which is to be in force for such part of the period as the Court thinks fit:

(i)

an order restraining the company from disposing of the property of the company other than in good faith and in the ordinary course of the business of the company;

(ii)

an order restraining the company from transferring any share in, or altering the rights of any member of, the company.

Read in full context — Insolvency, Restructuring and Dissolution Act 2018 →