Singapore legislation
Section 72P
Section 72P
Application of section 72
(1)
Subject to the modifications in this section, section 72(2), (3) and (4) applies after a compromise or an arrangement, between a company and its creditors or any class of those creditors, has been approved by the Court under section 72M, or confirmed or modified by the Court on any appeal mentioned in section 72O.
(2)
The following provision applies in place of subsection (2) of section 72: “(2) Where the Court is satisfied that the company has committed an act or omission, or made a decision, that results in a breach of any term of a compromise or an arrangement, the Court may, on the application of the company or any creditor bound by the compromise or arrangement —
reverse or modify the act or decision of the company; or (b)give such direction or make such order as the Court thinks fit to rectify the act, omission or decision of the company.”.
(3)
A reference in section 72(3) to the company, the scheme manager or any creditor bound by the scheme of arrangement is to be read as a reference to the company or any creditor bound by the compromise or arrangement.
(4)
A reference in section 72(4) to the compromise or arrangement as approved by the Court under section 210(4) of the Companies Act 1967 or section 71(1) is to be read as a reference to the compromise or arrangement as approved by the Court under section 72M or that compromise or arrangement as confirmed or modified by the Court on an appeal mentioned in section 72O, if any.