20 Mar '17, 5am

via Bfly

Perhaps more importantly for companies like Ezra, or other oil services firms with operations outside of the city-state, Singapore's court decisions will now be extra-territorial. That means an order made by a court in Singapore will be applicable across the globe. So, for example, a shipping outfit with vessels around the world can continue operating in the knowledge that those assets can't be easily seized while it's in bankruptcy protection. Again, that's been a feature of U.S. bankruptcy laws, which is why many international companies tend to go there for protection.

Full article: https://www.bloomberg.com/gadfly/articles/2017-03-20/sing...

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