The Supreme Court of Singapore announced that Justice Kannan Ramesh has been appointed as the seventh President of the International Insolvency Institute (III)

SINGAPORE, June 23, 2023/EINPresswire.com/ -- The Supreme Court of Singapore is pleased to announce that Justice Kannan Ramesh, Judge of the Appellate Division (高等法庭上诉审判庭加南拉美斯法官), has been appointed as the seventh President of the International Insolvency Institute (III). Justice Ramesh is the first Asian and the first Judge to be appointed to the top post in the III. Singapore has, in recent years, introduced groundbreaking reforms to its insolvency and restructuring laws to keep pace with the needs of the international debt restructuring landscape. Justice Ramesh’s appointment as the President of the III will significantly add to Singapore’s status as a restructuring and insolvency centre.

Justice Ramesh has been appointed for a term of two years with effect from 12th June 2023 at the III’s 23rd Annual Conference in Amsterdam on 10th to 11th June 2023. Established in 2000, the III is a non-profit, limited-member organisation dedicated to advancing and promoting insolvency as a respected discipline in the international field. Its primary objectives include improving international co-operation in the insolvency area and achieving greater coordination among nations in multinational business reorganisations and restructurings. The III’s membership is drawn from the most senior and respected insolvency practitioners, judges and academics in the world. The III, with its exceptional membership, international leadership and resources, plays a valuable and highly significant role in the international insolvency field.

Justice Ramesh was put forth as a candidate for President by the nominating committee. The III’s Board of Directors approved Justice Ramesh’s appointment as President on 12th June. Justice Ramesh has been a member of the III since 2006 and, until most recently, one of its Vice Presidents. Justice Ramesh succeeds outgoing President, John Martin (Partner, Norton Rose Fulbright Australia).

Justice Ramesh is highly regarded in the international insolvency community. He played an instrumental role in the establishment of the Judicial Insolvency Network; a network of 14 judiciaries around the world. This network was constituted to provide judicial thought leadership and to facilitate court-to-court communication and cooperation in cross-border insolvency and restructuring. In recognition of Justice Ramesh’s expertise, leadership, integrity, professionalism and service to the bankruptcy and insolvency practice and to their communities, His Honour was invited to become an International Fellow of the American College of Bankruptcy.

Justice Ramesh is a Co-Lead Judge of the Specialised List on Company, Insolvency and Trusts in the General Division of the High Court and also sits on the SICC Bench. He currently chairs the Advisory Board of the Singapore Global Restructuring Initiative at the Singapore Management University. He is also a member of the Singapore Academy of Law’s Law Reform Committee and the Singapore International Commercial Court’s (SICC) Restructuring Rules Committee, and an advisor to the Asian Business Law Institute. Justice Ramesh was awarded the Public Service Medal (Covid-19) for his contribution as a member of the COVID-19 Contractual Relief Team (COVID 1) and the Simplified Insolvency Programme (COVID 3-SIP).

On Justice Ramesh’s appointment, Chief Justice Sundaresh Menon said, “On behalf of the Singapore Judiciary, I extend my warmest congratulations to Justice Ramesh on his appointment as President of the International Insolvency Institute. This, together with his recent induction as a Fellow of the American College of Bankruptcy, speaks volumes of Justice Ramesh’s standing as an eminent thought leader in the international insolvency community and his invaluable contributions to cross-border insolvency and restructuring practice. Justice Ramesh’s appointment is also an apt recognition of Singapore’s legal talent, especially in the field of cross-border insolvency.”

“It is a privilege and an honour to be invited to serve this truly special institution as President. Being the first Asian President has of course great personal satisfaction but it has a significance beyond that. I see this Presidency as the culmination of an effort to broaden the institute’s global engagement by Presidents before me. That the membership is rich in geographical diversity today bears testament to that. The Presidency presents an immense opportunity to build, with the Board, on the foundations that have been laid and shape the global conversation on cross-border insolvency. This is a responsibility the Board and I accept, excited by the possibilities that the potential of the institute’s membership presents”, said Justice Ramesh.

M Hakim Salim
Singapore International Commercial Court
+65 6338 1034
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