Reconstruction

When a business faces insolvency, reconstruction often turns the business’ fortunes around. We have experience in assisting organisations in bankruptcy recovery to gain control of their businesses and rebuild trust with their key shareholders and creditors. We help our clients determine realistic strategies to avoid corporate bankruptcy by advising them on the best mode of reconstruction and financial recovery suited to them and carrying it out effectively. The following are some of the business recovery modes we use.

Judicial Management

When a business is in distress and facing bankruptcy in Singapore, judicial management may benefit the company and its members by protecting them from forced liquidation.

Our services include:

  • A thorough review of the business with a view to rehabilitate it as a going concern
  • Recommendation of financial and operational strategies to maximise value, turn the business around and source for external investors

Scheme of Arrangement

As an alternative to Judicial Management, Section 210 of the Singapore Companies Act provides for a scheme of arrangement that avoids messy and complicated negotiations with a view to obtaining the unanimous and binding approval of the members or creditors to a novation or assignment or other variation of their rights.

Our services include:

  • Planning, financial forecasting and recommending a realistic repayment scheme to your creditors

Receivership

This relates to both appointments by the Court and by debenture holders. Receivership does not necessarily mean the closure of a business as a receiver may decide that a company can be maintained as a going concern through the implementation of stricter financial controls and/or the trimming of unprofitable operations.

However, if our review and assessment shows that the business is unlikely to be profitable and there are no circumstances to justify continuation of the company’s business, there may be no alternative but to terminate the company’s operations in order to protect the position of the debenture holders and other interested parties.

Our services include:

  • Realisation of assets to the maximum value
  • Protection of the interest of the debenture holders and other interested parties
~ RAFFLES MEANS PEACE OF MIND ~