Singapore: On 7 April 2020, Parliament passed the COVID-19 (Temporary Measures) Act 2020 (the “Act”). The Act seeks to ameliorate the impact of COVID-19 on businesses and individuals who are unable to fulfil their contractual obligations due to COVID-19 such as construction projects, tenancy agreements and supply agreements. The Act will also increase the monetary thresholds and time limits for bankruptcy and insolvency.
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