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Description
In this practical workshop, we will take a deeper look at some real-life issues and problems that arise from individual and corporate insolvencies. The Trainer will also share and discuss useful pointers on how assets can be recovered from a legal viewpoint.
Programme Outline
- Precautions against non-payment: performance bonds, guarantees, progress payments, no set-off clauses
- Safeguards against non-performance:
- Escrow accounts e.g. Housing Developers Rules, the empty project account cases, certification, conclusive evidence
- Lifting corporate veil cases - company as alter ego, under capitalised companies, failure to treat company as separate
- Examination of judgement debtor – discussion
- Liability of insolvent company director:
- Foo Kian Beng v OP3 International Pte Ltd
- Tests of insolvency
- Liquidators' duty to act fairly
- Jointly owned assets - the Freddie Koh case
- False accounting and offences relating to insolvent companies
- Litigation funding
- Bankruptcy of Dr Goh Seng Heng and his attempt to hide his assets - voidable transactions relating to his wife, son and daughter
- Protecting corporate and personal assets from insolvency:
- Risk isolation, exemption clauses, insurance etc
- Controversial areas (control without ownership) - trusts, powers of attorney, options
Real-life cases will be used throughout the workshop to illustrate the various practical issues and learning points.
This workshop qualifies for 7.0 CPE hours in Insolvency and Restructuring (Category 4).
What you will learn
- Have an appreciation and understanding of the practical issues arising from insolvency
- Learn practical pointers on how you can legally and realistically recover assets in times of insolvency
- Learn from recent cases and understand how practitioners can avoid some common pitfalls
- Learn how you can protect your assets from liability and avoid insolvency
Target Audience
- Insolvency practitioners
- Directors and Managers
- Suppliers, Contractors and Customers of an insolvent company
- Anyone interested in understanding the practical issues arising from insolvency
Expert Speaker
Terence Tan
Terence is an Advocate and Solicitor for over 20 years, and was formerly Asst Professor in the Law Faculty of NUS where he taught Insolvency Law, Company Law and Computer Law.
Terence was named in Parliament in 1995 by the then Minister of Law for his comments on a loophole in the proposed Bankruptcy Act. His comments on bankruptcy legislation were expressly discussed by the High Court and the Court of Appeal.
Besides contributing articles in legal journals, Terence also regularly provides legal training and education for professional organizations, overseas universities and MNCs.
This is a face-to-face workshop to be conducted on 10th of October 2024. ACCA members will enjoy the members' fee of $459.00 (before prevailing GST rate). Kindly key in the promo code "ACCA24" during registration. You will be requested to furnish your ACCA membership number upon receipt of our confirmation.