BG: Covid Temporary Measures Act 2020: Key Aspects
To prevent a “free for all” money grab in certain sectors, the Singapore Government has taken the extraordinary and prudent step of protecting certain businesses from legal obligations in the COVID (Temporary) Measures Act for the next 6 months.
We cover 3 aspects of the Act in this short video:
1. The Moratorium Effect/ Suspension of Proceedings
2. Substantive Defences for Construction Contracts
3. Change to Timelines/ Thresholds for commencing bankruptcy & liquidation proceedings.