What will happen to the insolvency and debt restructuring cases commenced under the corresponding previous laws which have yet to complete administration?
The Bankruptcy Act (Cap. 20) and Companies Act (Cap. 50) will continue to apply to existing insolvency and debt restructuring cases commenced under the Bankruptcy Act (Cap. 20) and Companies Act (Cap. 50).
Related questions
Am I required to hold an insolvency practitioner's licence to be appointed to act in cases commenced under the Insolvency Restructuring and Dissolution Act 2018 (“the Act”)?
Do I need to hold an insolvency practitioner's licence if I intend to continue with and complete the administration of cases commenced under the Bankruptcy Act (Cap. 20) and/or Companies Act (Cap. 50)?
I have submitted an application for the renewal of my insolvency practitioner's licence, and it is currently pending approval. Can I continue to act as an insolvency practitioner even though my existing insolvency practitioner's licence has expired?
What is the difference between corporate insolvency and individual insolvency (bankruptcy)?
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