Delaware Bankruptcy Court and Supreme Court of Singapore Sign Memorandum of Understanding

Thursday, October 4, 2018


           On September 27, 2018, the United States Bankruptcy Court for the District of Delaware and the Supreme Court of Singapore entered into a Memorandum of Understanding aimed at improving the efficiency and effectiveness of trans-national insolvency proceedings by encouraging cooperation between the Courts.  The Memorandum of Understanding was executed at the Permanent Mission of the Republic of Singapore in New York City by the Hon. Kevin J. Carey of the Delaware Bankruptcy Court and the Hon. Steven Chong Horng Siong of the Singapore Court of Appeal.  The Hon. Christopher S. Sontchi, Chief Judge of the United States Bankruptcy Court for the District of Delaware, and the Hon. Chief Justice Sundaresh Menon, Chief Justice of the Supreme Court of Singapore, were also in attendance. 

            The Memorandum of Understanding notes that both Courts have adopted cross-border insolvency laws based on the UNCITRAL Model Law on Cross-Border Insolvency adopted by the United Nations Commission on International Trade Law and guidelines for court-to-court communication and cooperation based on the Judicial Insolvency Network Guidelines and that the relationship between the Courts is an important element in enhancing the efficiency and effectiveness of cross-border insolvency procedures.  Through the Memorandum of Understanding the Courts have agreed to work together to implement cooperation based upon principles of mutual understanding and respect.