Professional Conduct & Ethics for Insolvency Practitioners (Code: E120)

Programme Objectives

This seminar provides an overview on the Code of Professional Conduct and Ethics of The Insolvency Practitioners Association of Singapore (the “IPAS Code”), discusses some observations noted on insolvency practitioners as reported in the newspapers/government gazette in relation to integrity, objectivity and due care; as well as three case authorities before the Singapore court of appeal on independence and transparency. 

Programme Outline

The programme will cover the following aspects of liquidation:

1. Introduction to the three parts of the IPAS Code

2. The five fundamental principles of the IPAS Code

3.  The. conceptual-based approach of the IPAS Code

4. Threats and safeguards

5. The modus operandi of ethical conflict resolution under the IPAS Code

6. 2 Flow charts summarising (a) to (e) above

7. Independence of insolvency practitioners with case authority before the court of appeal

8. Analogy of certain duties of insolvency practitioners in relation to the comments by the Chief Justice in taking lawyers to task

9. Transparency of insolvency practitioners with two case authorities before the court of appeal

10. Inducement to be appointed liquidator

The session will interlace with questions and answers and end with a provision in the Companies Act in relation to inducement to be appointed liquidator. 

Trainer Details

Lee Yin Chen 

Yin Chen is a licensed insolvency practitioner under the Insolvency, Restructuring and Dissolution Act 2018, and a Chartered Accountant of Singapore. 

Since late 2001, Yin Chen was trained to do insolvency administrations such as liquidation (voluntary and involuntary), receivership, scheme of arrangement and compromise. Corollary to the work of an insolvency practitioner, he also spent time in investigative and litigation support work.

Prior to insolvency administrations, Yin Chen was an auditor and was involved in some litigation support work such as directors' or shareholders’ disputes, apart from the routine auditing. In 2011, Yin Chen left his employment as a senior manager with the corporate recovery department of a large accounting and consulting service group in Singapore and set up his own liquidation practice.