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Date: 15-16 Oct '09 Time: 9:00am - 5:00pm CPE/CPD:14 hrs
About the seminar
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Why should you attend?
Insolvency law is relevant to virtually all aspects of commercial activity because of the potential for both personal and corporate indebtedness to arise, especially in the present economic climate.
You may be affected either as the debtor (the indebted party) or as the creditor (in trying to recover payment from a debtor). We have seen, in recent times, the impact that insolvencies - large and small - can have on shareholders, employees, creditors and the community.
This Programme is a two-day course that will provide an introduction to the legal aspects of insolvency covering practical insights into the legal issues, considerations and pitfalls to be aware of during an insolvency process. You will understand your basic legal rights and liabilities, both as a debtor and a creditor.
The topics to be covered relate to both personal and corporate insolvency.
Key Topics
Legal aspects of the roles, rights and obligations of administrators (in bankruptcy) and receivers, judicial managers and liquidators (in corporate insolvency).
Priority of debts and distribution including employee entitlements
Key concepts in winding up (liquidation) proceedings, powers of recovery, pari passu principle, avoidance of transactions, proofs of debts, and set-off
Receivership, judicial management and schemes of arrangement as alternative procedures to the liquidation of a company.
Case studies
Who should attend? .....................................................................................................................................................................................
New entrants into the field of insolvency practice:
Accounting Practitioners, Auditors, Business Advisors, Company Secretaries, Chartered Secretaries, Accountants; also Directors
1. Primary Legislation 2. Modes Of Winding Up 3. Compulsory Winding Up By The Court • Parties Who May Apply for Winding Up
• Grounds For Winding Up By The Court
• Statutory Demand
• Commencement Of Winding Up
• Shares/Property
• Notice To Registrar
• Effect Of Winding Up Order 4. Liquidators
• Provisional Liquidators
• Unofficial Liquidators
• Duties and Liabilities of Liquidator
• Some Powers of the Liquidator
• General Provisions as to Liquidators
• Release of Liquidator
• Salary of Liquidator 5. Members’ Voluntary Winding Up
• Circumstances in which a company may be wound up voluntarily
• Action to be Taken
• Commencement of Voluntary Winding Up
• Effect of Voluntary Winding up
• Liquidator
• Duty of liquidator to call creditors’ meeting in case of insolvency 6. Creditors’ Voluntary Winding Up
• Procedure
• Compulsory Winding Up When Company is in Process of Voluntary Winding Up
• Liquidators 7. Distinction Between Members’ And Creditors’ Voluntary Winding Up 8. General Provisions Relating To Voluntary Winding Up 9. Some General Provisions Relating To All Modes Of Winding Up
• General Requirements
• Proofs of Debt
• Priorities 10. Avoidance Of Dispositons
• Floating Charge
• Property
• Execution
• Uncompleted Execution
• Undue or Unfair Preferences
• Transactions at an Undervalue
• Secured Creditors
• Declaration Of Dividend 11. Offences 12. Striking Off The Register
--- RECEIVERSHIP --- 13. The Receiver • Qualifications
• Persons Disqualified 14. Persons Who Can Appoint A Receiver 15. Effect Of Placing Company Under Receivership 16. Whose Agent Is The Receiver? 17. Accounts 18. Duties Of Receiver 19. Liabilities Of Receiver As Agent For Company
--- JUDICIAL MANAGEMENT ---
20. Features 21. Purpose 22. Basis For Application For A Judicial Management Order 23. Appointment Of A Judicial Manager 24. Effect Of Application For A Judicial Management Order 25. Effect Of A Judicial Management Order 26. Position Of Directors 27. Role, Powers Duties And Liabilities Of A Judicial Manager
• General Powers and Duties
• Dealing with Charged Property and Goods Agreements
• Judicial Manager as Agent
• Information to be Given by and to Judicial Manager
• Statement of Proposals
• Undue Preferences
• Duty to Apply for Discharge of J.M. Order
• Vacation of Office and Release 28. Remuneration Of Judicial Managers 29. Position Of Secured Creditors 30. Employees’ CPF
--- SCHEME OF ARRANGEMENT ---
31. Purpose 32. Types Of Schemes 33. Procedure 34. Effect Of A Scheme Of Arrangement 35. Employees’ Cpf 36. Position Of Third Parties
--- DIRECTORS ---
37. Directors’ Liability For ‘Insolvent Trading’ 38. Directors’ Duties/Powers When Company Is In Liquidation, In Receivership, Under Judicial Management Or Under A Scheme Of Arrangement
Mrs. Margaret George is an Advocate and Solicitor of Singapore. She has been in legal practice since 1986, and is a Consultant in a local law firm.
Her main area of practice is general litigation, involving company law/directors’ duties/shareholders’ claims, construction-related claims, contractual claims, debt recovery, defamation, negligence, principal-agency claims, landlord-tenancy claims, and probate and estate matters.
She had been a trainer for about 13 years and now conducts ad-hoc or in-house training for banks and other financial institutions in subjects such as Agency Law, Banking Law, Cheques and Negotiable Instruments, Secured Lending by Banks, Contract Law, Defamation, Insolvency Law, Probate, Wills and Estates and Negligence.
If you are having trouble registering online then you may download and fill out this registration form and fax it to (65) 65090292.
