Recent Developments in Schemes of Arrangement in Singapore: Classification of Creditors and Scheme Manager's Conflicts of Interest: Royal Bank of Scotland (Formerly Known as ABN Amro Bank ) v. TT International Ltd
Journal of Business Law 552, 2013
Posted: 15 Apr 2014 Last revised: 15 Aug 2014
Date Written: December 15, 2012
This note discusses Royal Bank of Scotland v. TT International (Re TT International), where the Singapore Court of Appeal had to consider three important issues in relation to the creditors’ scheme of arrangement involving a financially distressed company: first, the classification of creditors; second, the role of the scheme manager and third, the effect of non-disclosure of the scheme manager’s success-based fee to the creditors.
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