Nanthini Vijayakumar was quoted in Lianhe Zaobao by Li Tao. Lawyers were interviewed on their views on the updated Simplified Insolvency Programme (SIP 2.0).

Nanthini shared her views that the SIP 2.0 fully balances the efficiency of liquidation and the protection of creditors. The most critical thing is that the initial moratorium period, during which creditors cannot exercise their rights, is shortened to 30 days, and the same company can only apply for SIP 2.0 once within 5 years.

Additionally, if there are major violations at the creditors’ meeting of the simplified procedure, or if the procedure itself is not beneficial to the interests of creditors and the company, creditors can still file a lawsuit in court to claim their own rights.