This article is an attempt to look into the distinct approach adopted by the Australian and English courts in light of the observations made by the Singapore Court of Appeal in the Oriental Insurance case on the issue of whether Scheme of arrangement derives its efficacy from statute or from an order of the court. It briefly outlines the latest developments in the use of Scheme and the reasons that added to growth of its use. The author compares the approaches using the case of extension of time and concludes by suggesting that the Australian approach can favour the growth in use of Scheme.
- extension of time
Available at: http://works.bepress.com/neeti_shikha/4/