I was working in Singapore in the mid 1980s and got into insolvency law as part of the fall out from a stock market crash then. Insolvency law in Singapore was then broadly similar to that in England and Wales (it still is in many respects). It’s a gloriously technical area with clients needing answers.
That insolvency practitioners have much discretion to move away from the prescribed waterfall of payments.
The increasing criminalisation by Parliament of actions of directors, insolvency practitioners and others will make parties more cautious in acting in quick moving insolvency and restructuring situations. And more vulnerable to retrospective claims based on hindsight.
I work in insolvency law, together with the connected areas of pensions, corporate and employment law. That’s where I want to be.
