This module will discuss the conditions for seeking rescue financing and the various practical challenges associated with it. It will further explore alternative structures for financing without going through a court process. The course will also do an in-depth study of previous cases in Singapore that had sought rescue financing and draw out the learning points for each case.
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:
- Identify and understand the issues faced by distressed companies in raising financing
- Understand the various remedies available, their implications on key stakeholders, and the key considerations in identifying the appropriate solutions to rescue and protect the companies and its stakeholders and/ or to maximise recovery to its creditors
- Understand the power, roles, and responsibilities of as well as issues faced by insolvency practitioners in dealing with the companies being restructured/ placed in some form of insolvent administration
- Overview of the sources of potential funding and the legal and commercial considerations of such potential funders
- Understand the legal and commercial justifications for rescue financing
- Describe the key features and changes to financing structures pre and post insolvency
- Act with greater knowledge and confidence to enhance a company’s success in restructuring and/ or to minimise the impact of an insolvency company on its various stakeholders
- Identify and critically evaluate the appropriate solutions to address a company’s key concerns, and drafting tailor-made solutions to address them
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
Vera Lim
Vera Lim is a Director in the Turnaround & Restructuring practice at Deloitte Singapore. She has experience in corporate restructuring and insolvency matters, including liquidation, schemes of arrangement, independent business reviews and chief restructuring officer (CRO) services. Recent notable cases she has been involved in include the appointment of a CRO and scheme manager over a Singapore-based commodities trader with USD700m in debts, and the liquidation of a global agricultural commodities trader with operations across Asia, the Middle East and Africa.
Vera is a CFA® Charterholder and a member of the Insolvency Practitioners Association of Singapore (IPAS) and the International Women's Insolvency & Restructuring Confederation (IWIRC) Singapore Network.
Daniel Liu
Daniel Liu is a Partner in WongPartnership’s Restructuring & Insolvency and Special Situations Advisory Practices.
Daniel specialises in large-scale corporate restructurings and complex cross-border insolvencies. He advises and acts for debtors-in-possession, insolvency practitioners, creditors and investors in distressed and insolvency situations. His practice in high-profile restructurings also requires him to advise on matters relating to corporate governance, corporate M&A transactions, bonds and equities markets and financial services regulatory matters.
Daniel’s principal areas of practice include acting as lead counsel in out-of-court turnarounds, schemes of arrangement, judicial management and liquidations. He leads the formulation of commercial turnaround strategies, navigation of diverse multi-stakeholder scenarios with complex capital/financing structures, and the securing of favourable outcomes from the perspective of creditor recovery (including through asset tracing). He is regularly engaged as lead counsel in cross-border briefs that require recognition and enforcement involving the UNCITRAL Model Law on Cross-Border Insolvency.
Daniel also has particular expertise and know-how in digital assets, artificial intelligence, blockchain, FinTech and other technology-sector industries; he is a member of the INSOL International INSOLTech Committee and a participating author in the Oxford Handbook on Digital Asset and the Law (upcoming).
FEES AND FUNDING
