Assistance for Businesses Impacted by COVID-19 – Re-Align Framework & Simplified Insolvency Programme

Assistance for Businesses Impacted by COVID-19 – Re-Align Framework & Simplified Insolvency Programme

To further support small and micro businesses that continue to be significantly impacted by COVID-19, MinLaw will introduce two new measures – the Re-Align Framework and Simplified Insolvency Programme in January 2021. Find out how:

• The Re-Align Framework provides businesses with the option to renegotiate their contracts so that they can re-align themselves to a New Normal economy.
• Ways you may be able to tap on a temporary simplified insolvency programme modified from the existing insolvency framework and benefit from simpler, faster and lower-cost proceedings for debt restructuring and winding up.

For more information, visit www.mlaw.gov.sg/news/press-releases/simplified-insolvency-programme