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Legal, compliance and restructuring

Data room for judicial management

Short answerA judicial manager appointed under the Insolvency, Restructuring and Dissolution Act often needs to sell the business or bring in an investor quickly. A data room lets many potential investors review the company at once, with controlled access and a clear record.

How it works in Singapore

Judicial management is a Singapore rescue process under the Insolvency, Restructuring and Dissolution Act 2018. The judicial manager, an insolvency practitioner, takes control to achieve the statutory purposes, such as rescuing the company or getting a better result for creditors than winding up.

Time is short and the company's records may be incomplete, so the room must be built quickly with what is available.

Best data rooms for judicial management

Our five measures re-weighted for this use case, with a small bonus for rooms built for it. Prices before 9% GST.

  1. 1 Ellty ~S$191/mo 9.3 Visit Ellty
  2. 2 iDeals On quote 8.7
  3. 3 Datasite On quote 8.6
  4. 4 Ansarada On quote 8.6
  5. 5 Firmex On quote 8.5
  6. 6 Drooms On quote 8.4
  7. 7 Intralinks On quote 8.3
  8. 8 SmartRoom On quote 8.2
  9. 9 CapLinked ~S$382/mo 8.1
  10. 10 DealRoom On quote 8.0
22%Security21%Deal tools20%Permissions21%Ease of use16%Cost

Folder index for judicial management

01
Information memorandumSummary prepared by the judicial manager.
02
FinancialsLatest accounts and management figures.
03
AssetsAsset lists and valuations.
04
ContractsKey contracts and leases.
05
EmployeesAnonymised headcount and liabilities.
06
ProcessBid instructions and offer forms.

Singapore rules that apply

IRDA 2018

Sets the purposes and powers of judicial management and the moratorium on claims.

PDPA

Employee and customer data still needs protection during a sale.

Features you need

FeatureWhy it matters hereRooms in our top 10 that list it
View and download controlEach file can be set to view-only, print or download, and the setting can be changed later.10 of 10
Q&A workflowBidders post a question against a file; your team drafts, approves and publishes the reply, and the whole thread is kept.10 of 10
Audit trailTime-stamped history of who opened, printed or downloaded each document, exportable for a dispute, insurer or regulator.10 of 10
Dynamic watermarksThe reader's name, email and time are stamped across each page as it opens, so a photographed page can be traced.10 of 10

How to set it up

  1. Open quicklyLaunch with the core folders and add as records are found.
  2. Use a standard NDAClick-through confidentiality before access.
  3. Run Q&A centrallyOne answer for all bidders saves time.

Mistakes to avoid

  • Waiting for perfect records before opening.
  • Inconsistent answers to bidders.

Questions people ask

Who runs a judicial management data room?

The judicial manager and its team, often with legal advisers.

How fast can it open?

With a data room that admins can configure themselves, often within a day or two.

Is personal data still protected?

Yes, the PDPA continues to apply; anonymise employee data for early bidders.