Moratorium Applications

Moratorium Applications under section 64 or 65 of the Insolvency, Restructuring and Dissolution Act 2018  

The Singapore International Commercial Court has jurisdiction to hear proceedings relating to corporate insolvency, restructuring and dissolution under the Insolvency, Restructuring and Dissolution Act 2018 ("IRDA") that are international and commercial in nature (section 18D(2)(c) of the Supreme Court of Judicature Act 1969).

The General Division of the High Court may consider transferring a moratorium application under section 64 or 65 of the IRDA to the Singapore International Commercial Court, if:

1. the application concerns a foreign company; and
2. the value of the foreign company's assets, or the total value of the foreign company's debts and any claims against the foreign company, exceeds S$10 million.

Therefore, counsel for the applicant, every other party, and every affected person, in a moratorium application that meets these criteria must take instructions from their clients on the possible transfer of the application to the Singapore International Commercial Court.

For more information, please refer to Note 8 of the SICC User Guides, which deals with corporate insolvency, restructuring and dissolution proceedings in the Singapore International Commercial Court.