COVID-19: Bond Buybacks and Liability Management in Asia

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As the COVID-19 pandemic continues to take its economic toll, many companies with outstanding bonds worry that they will not have enough cash on hand to repay their bonds on their stated maturity date, or that their bond covenants are, or may soon become, under pressure. These companies may benefit from amending their bonds to defer payment, achieve greater covenant flexibility or make other advantageous changes. For other companies, the decline in the bond markets presents an opportunity to repurchase their bonds at a significant discount.

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COVID-19 Updates for Singapore Employers: Safe Distancing, Cost Reduction and Government Support

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As of 5 April 2020, Singapore has reported more than 1,300 cases and six deaths due to the COVID-19 pandemic. While Singapore is handling the COVID-19 pandemic better than most nations, the crisis continues to intensify at an increasing rate. As such, there is the continued need to be vigilant in enforcing social distancing and isolation measures.

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A Message from our Chairman

The COVID-19 pandemic has been rapidly evolving and the safety and health of our staff and clients are of utmost importance. In compliance with the Singapore government’s advisory and to further prevent the spread of the coronavirus, our split team arrangements will cease and our office will be fully closed from 7 April till 4 May 2020.

In the meantime, our lawyers will work from home and can be reached via email and telephone. Our robust IT and communication systems will ensure that you continue to receive the same level of responsiveness and service.

Our Firm stands ready to guide you through issues related to this crisis and we will continue to provide updates and resources to address your concerns.

Our multi-disciplinary COVID-19 team provides comprehensive and swift responses on specific legal issues arising from disruption of your commercial transactions as a result of the crisis. Our team is part of a global practice group which constantly monitors the situation worldwide and is available to advise across all industries and practice areas.

During these extraordinary and uncertain times, please do not hesitate to reach me, any of our Directors, or your usual contact at our Firm. We want you to know that we are here for you and our team is committed to support you during this challenging period.

Should you wish to contact our COVID-19 team directly, please reach us at: covid19team@duanemorrisselvam.com

More COVID-19 Resources can be found on our LinkedIn page .

Please stay healthy and safe.

Leon Yee
Chairman
Duane Morris & Selvam LLP

Dealing with COVID-19 in the Construction Industry

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English Version | Korean Version

The global COVID-19 pandemic, and the response by the Singapore government will have important consequences for the construction industry. This article provides a summary of the current laws, our analysis of how it will affect industry players, and various legal and practical issues that may arise.

The government response is changing rapidly and we will update this article periodically to reflect the latest changes.

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Singapore’s COVID-19 (Temporary Measures) Bill

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According to a press release by the Ministry of Law on 1 April 2020, the Singapore government will introduce a new bill known as the COVID-19 (Temporary Measures) Bill in Parliament on 7 April 2020.

To read the full text of this Duane Morris Alert, which summarises the likely key features of the bill, based on currently available sources, please visit the firm website.

COVID-19 in Singapore: What Can Commercial Tenants Do?

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The global outbreak of the novel coronavirus (COVID-19) is the most critical problem facing the world now.

The Singapore government has acted swiftly to reduce the risks of local transmission. At the time of publication of this Alert, all bars and entertainment venues such as nightclubs, cinemas and games centres have been prohibited from operating. In addition, all gatherings involving more than 10 persons have been prohibited. Food and beverage, retail, and health and fitness businesses have been allowed to continue their operations (but with further precautionary measures)―for now. It is certain that these regulations will, and must, be tightened if the health crisis continues on its current trajectory.

To read the full text of this Duane Morris Alert, please visit the firm website.

What Can I Do When My Singapore Wedding’s Stuck in COVID-19 Limbo?

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The global outbreak of the novel coronavirus (COVID-19) is a public health emergency of international concern. In Singapore, the government has acted swiftly to impose restrictions. At the time of this article, all gatherings have been limited to 10 persons until 30 April 2020, and all events of 250 people or more have been suspended until 30 June 2020.

The situation is evolving rapidly and we expect these regulations to be tightened or extended. One group that has been impacted are couples with upcoming wedding celebrations, as well as other events organisers. If you are in this position, you may be wondering whether you are entitled to cancel or postpone your event, without losing your deposit, or worse, being forced to pay the full agreed price to the venue and your vendors. This article is meant to be a simple guide to navigating the process.

To read the full text of this article by Duane Morris & Selvam director Daniel Soo, please visit the firm website.