26/09/2026
With business closures in Singapore exceeding 38,000 in the first seven months of 2026, live corporate takeovers involving rented commercial premises are increasingly common.
When a business changes hands or operates through a non-signatory sister company, however, landlords often face legal enforcement hurdles.
In a BT Explains piece by The Business Times, our Managing Director Lee Ee Yang shared legal mechanisms and safeguards for commercial property owners:
1) Under the Insolvency, Restructuring and Dissolution Act 2018 (IRDA), liquidators can apply to reverse transactions involving unfair preferences or undervaluation conducted up to three years before winding up.
2) Individuals or affiliated entities knowingly involved in siphoning assets to defraud creditors can be ordered to make personal contributions to the insolvent company’s assets.
3) Landlords can protect themselves by securing parent company guarantees and director indemnities.
Read the full article by The Business Times here: https://www.businesstimes.com.sg/singapore/business-takeover-how-can-landlords-singapore-protect-themselves
More commercial establishments are closing this year, with many attempting to sell their operations first Read more at The Business Times.