[CJ Koh Professorial Lecture] The Nature Of Entities: Restructuring Reits And Business Trusts As Unregistered Companies
August
24
Wednesday
| Speaker: | Professor Hans Tjio, NUS Law |
| Moderator: | Justice Chua Lee Ming, Judge of the Supreme Court |
| Time: | 6:00 pm to 8:00 pm (SGT) |
| Venue: | NUS Law (Bukit Timah Campus), Wee Chong Jin Moot Court |
| Type of Participation: | Open To Public |
Description
The use of alternative business forms harks back to the unincorporated joint stock company that was often a partnership with trust characteristics. REITs and business trusts form a large component of the Singapore Exchange but there are issues with their liquidation and restructuring. They have been
analogized with the company which has clear asset partitioning conferring creditor claim priority to a segregated fund. Such partitioning also existed with partnerships and trusts and this was recognised by Victorian legislatures which crafted early company legislation. In the US in 2021, Eagle Hospitality Real Estate Investment Trust (EH-REIT) was treated as a person for the purposes of Chapter 11 restructuring. It is argued that they could
also be seen as “unregistered companies” under Commonwealth Companies Acts and restructured in a way that mirrors an incorporated company.
CPD Points
1
Practice Area: Corporate/Commercial
Training Category: Foundation
Participants who wish to obtain CPD Points are reminded that they must comply strictly with the Attendance Policy set out in the CPD Guidelines. For this activity, this includes signing in on arrival and signing out at the conclusion of the activity in the manner required by the organiser, and not being absent from the entire activity for more than 15 minutes. Participants who do not comply with the Attendance Policy will not be able to obtain CPD Points for attending the activity. Please refer to www.sileCPDcentre.sg for more information.