Thenuga is a Senior Associate at the Firm’s Restructuring and Insolvency Practice. Her main areas of practice include consensual and non-consensual restructuring and insolvency, and cross-border disputes.
She has represented both local and international clients in various restructuring and insolvency cases involving judicial management, schemes of arrangement and related moratoria and most recently the recognition of foreign insolvency practitioners and foreign proceedings in Singapore under common law and the UNCITRAL Model Law.
She is a disputes lawyer with substantial court and arbitration experience. In this respect, she has represented local and international clients in the Singapore Court and in SIAC and ICC arbitrations covering various industries including the oil and gas, paper manufacturing, telecommunications and food processing industries.
Thenuga graduated from the Singapore Management University with a Juris Doctor and a Bachelor of Business Management with a double major.
She is admitted to the Singapore Bar and serves on the Board of the Singapore Network of the International Women's Insolvency & Restructuring Confederation and Pro Bono Services Project Law Help committee.
Otonomos BCC Pte Ltd is one of the first technology companies specialising in blockchain technology to be wound up by the Singapore courts. As there are likely to be more insolvency and restructuring cases dealing with cryptocurrency in the near future, this article examines the legal nature of cryptocurrency in the insolvency and restructuring sphere, the feasibility of using cryptocurrency as security and the potential challenges faced by insolvency practitioners relating to cryptocurrency.
Singapore is positioning itself as a hub for insolvency and restructuring. Imminent changes to Singapore's mediation landscape suggest that mediation will soon become one of the tools available to insolvency and restructuring practitioners in resolving their clients' concerns. Similarly, there is room for employing arbitration in specific types of dispute, which will assist with insolvency and restructuring matters and help to resolve them more expediently.
An online travel platform recently obtained Singapore's first super priority order for rescue financing pursuant to Section 211E(1)(b) of the Companies Act. This groundbreaking decision provides valuable guidance to insolvency practitioners regarding future applications for super priority rescue financing, which will hopefully increase the attractiveness of distressed financing as an investment opportunity in Singapore, fostering its development as an insolvency and restructuring hub.
The Singapore High Court recently delivered a landmark decision on the recognition of foreign bankruptcy proceedings and the public policy exception under the Singapore Model Law. In this groundbreaking decision, the court ruled on several matters relating to the law for the first time, including the relevant date and other factors for determining a debtor's centre of main interests.
The Companies Act was amended in May 2017 to introduce a number of improvements to Singapore's debt restructuring laws regarding super-priority status for rescue financing, schemes of arrangement, judicial management and cross-border insolvency. This article reviews the various court decisions (both reported and unreported) that have been issued since the changes became operative.
The much-anticipated Insolvency, Restructuring and Dissolution Bill was recently passed. The bill aims to ensure that Singapore's restructuring and insolvency laws remain relevant and progressive to support its position as a global restructuring hub. The bill also represents the last phase of implementing recommendations from the Insolvency Law Review Committee and the Committee to Strengthen Singapore as an International Centre for Debt Restructuring.