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Brunei
Wednesday, October 5, 2022
23.2 C
Brunei
Wednesday, October 5, 2022
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    Recognise importance of insolvency, restructuring ecosystem: Chief Justice

    Fadley Faisal

    It is critical that all stakeholders to recognise the importance of an effective insolvency and restructuring ecosystem in bringing benefits for the local economy in promoting entrepreneurship, access to finance and economic growth, particularly the current economic climate in the context of recovery post COVID-19.

    This was said by Chief Justice Dato Seri Paduka Steven Chong during the opening of the ‘Insolvency Training Programme for the Brunei Courts, the Attorney General’s Chambers, The Law Society, Banks and Financial Regulators’.

    The three-day training programme, hosted by Brunei Judiciary and Singapore Judiciary and organised by INSOL International is a first-of-its-kind webinar in the Sultanate, bringing together key players in the domestic insolvency and restructuring landscape.

    The programme covered topics ranging from personal insolvency experiences in Singapore and Australia, trends and practices in insolvency and restructuring law, and entrepreneur insolvency.

    The programme featured international speakers from the Supreme Court of Singapore, the Insolvency and Public Trustee’s Office of Singapore (IPTO), the Australian Financial Security Authority (AFSA), INSOL International, Singapore Management University, the World Bank, the Ministry of Law of Singapore and DHC Capital.

    Dato Seri Paduka Steven Chong expressed gratitude to INSOL International and Justice Kannan Ramesh of the Singapore Judiciary for making the programme possible.

    The Chief Justice said, “We hope to equip stakeholders with knowledge and expertise on insolvency and restructuring regimes which involves a multitude of disciplines, combining legal, economic, technical and fiscal aspects.

    “The programme is timely with the increasing focus and efforts of local stakeholders from the private and public sectors to strengthen Brunei Darussalam’s insolvency and restructuring regimes.”

    Chief Justice Dato Seri Paduka Steven Chong speaks during the webinar. PHOTO: Supreme Court of Brunei Darussalam
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