This module deals with the practical aspects of managing risks in the context of insolvency laws which insolvency practitioners (IPs), such as accountants and lawyers, face when they are appointed. Whilst those laws include issues such voidable transactions that arise in insolvencies and which are covered by other modules, the focus of this module is not on the substantive issues of law and practice but more on how to manage these risks in a practical context. This module also covers regulatory aspects in the course of managing restructurings and insolvencies.
This module is part of the Advanced Certificate in Insolvency and Restructuring.
LEARNING OBJECTIVES
At the end of the module, participants will be able to:
- Appreciate the considerations of the IPs in a restructuring or insolvency engagement
- Understand the typical operational challenges faced by the IPs in insolvency and restructuring engagements
- Assess the situations and apply the applicable legal principles to be adopted in addressing these situations
- Understand the regulatory and reporting obligations for the IPs
- Understand the practical steps that can be taken to manage personal liabilities for the IPs
- Understand how to approach remedies that should be pursued against directors and third parties in relation to voidable transactions
WHO SHOULD ATTEND
- Newly qualified accountants and lawyers pursuing R&I practice or mid-career accountants/ lawyers from other specialisations
- Restructuring/ Financial Advisers
- Bank/ Lender work-out groups
PREREQUISITE
Participants should preferably be a degree holder, in any discipline, and have at least one year of working experience.
ASSESSMENT
As part of the requirement for SkillsFuture Singapore, there will be an assessment conducted at the end of the course. The mode of assessment, which is up to the trainer’s discretion, may be an online quiz, a presentation or based on classroom exercises.
Participants are required to attain a minimum of 75% attendance and pass the associated assessment in order to receive a digital Certificate of Completion issued by Singapore Management University.
SPEAKERS
Darius Tay
Darius Tay is a restructuring and insolvency lawyer specializing in finding bespoke solutions for clients in special situations. His practice covers both contentious and non-contentious work, such as acting for debtors in complex multi-jurisdictional restructuring, helping creditors create strategies to maximise recoveries in complex multi-jurisdictional insolvencies, and finding solutions for disputes between shareholders, creditors and stakeholders inter-se. He also advises on financing, mergers and acquisitions and corporate restructuring (in court and out of court) in distress/special situations.
Darius has worked on and completed multiple complex cross border restructuring on behalf various stakeholders including debtors, creditors and new money investors.
He has experience in shipping, offshore oil and gas, logistics, fast-moving consumer goods, banking, telecommunication, hospitality, and human resources.
Darius was appointed to the Singapore Supreme Court’s Young Amicus Curiae Scheme in 2014. He acted as amicus curiae in the only reported Singapore judgment on the issue of testamentary capacity regarding the disposal of one’s Central Provident Fund (Singapore’s national retirement savings plan) monies. Darius is a recognised rising star of the local CRI scene and he has consistently been ranked in leading publications such as Asia Law, Chambers Asia Pacific, The Legal 500 Asia Pacific, Best Lawyers and IFLR 1000.
Yessica Budiman
Yessica brings more than 18 years of experience in liquidation, judicial management, receivership, schemes of arrangement, and special and monitoring accountant assignments. She is a licensed Insolvency Practitioner and has been appointed to oversee numerous corporate and personal insolvency administrations. She also has experience in forensic accounting and debt restructuring engagements.
Her experience spans a broad range of industries, including construction, chemicals, oil and gas, manufacturing, telecommunications, retail, and hospitality. She has been involved in complex engagements involving business reviews, financial analysis, cash flow and budget monitoring, stakeholder negotiations, and corporate restructuring and insolvency matters. She has worked closely with creditors, directors, employees, investors, and government authorities in the administration of complex insolvency and restructuring engagements.
FEES AND FUNDING
