Corporate Insolvency & Restructuring
Empathetic Solutions for Distressed Singapore SMEs
Restructure debt or execute an orderly closure under Singapore's Simplified Insolvency Programme (SIP 2.0).
Micro and small enterprises (SMEs) are the lifeblood of Singapore's economy, but they face immense vulnerability during economic fluctuations. When financial distress hits, small business owners often feel overwhelmed by complex corporate laws. Our WeCare SME Rescue & Closure service provides a tailored, low-cost framework designed specifically for micro and small companies. We guide you through the Ministry of Law's Simplified Insolvency Programme (SIP 2.0) to achieve a dignified outcome.
The SIP 2.0 provides two distinct, streamlined pathways: the Simplified Debt Restructuring Programme (SDRP) to keep viable businesses afloat, and the Simplified Winding Up Programme (SWUP) for clean, orderly closure. These programs drastically reduce the time, cost, and administrative complexity compared to traditional corporate insolvency processes. WeCare acts as your strategic partner, handling the paperwork, coordinating with creditors, and ensuring a smooth transition.
Why clients choose WeCare for this
Tailored SME expertise, specialized in the unique needs of micro-companies and family businesses.
A highly cost-effective approach, maximizing asset preservation and avoiding unnecessary legal costs.
Compassionate guidance that protects the personal reputation and future viability of the founders.
Who this is for
If none of these sound like your situation, say so — a different route probably fits better.
For viable micro-businesses experiencing short-term cash flow crises that need to restructure credit lines and agreements with key suppliers.
For small business owners who have made the difficult decision to close their doors and require an affordable, compliant, and dignified winding-up process.
How it works
Four stages, from first conversation to resolution.
We analyze your corporate financial statements, employee count, and liabilities against the official Ministry of Law criteria.
Depending on your goal, we prepare either a structured Debt Restructuring Proposal or a simplified Statement of Assets and Liabilities.
We handle the complete administrative filing with the Official Receiver and manage all subsequent operational inquiries.
We lead the discussions to secure creditor consensus (for SDRP) or oversee the distribution of minimal assets (for SWUP) to achieve official closure.
Is your case simple or complex?
Based on objective facts about your situation, not on what you are charged. Read both and see which describes you.
Straightforward
Micro-companies seeking straightforward, orderly closure through the Simplified Winding Up Programme with minimal, unencumbered assets and low creditor counts.
Needs closer handling
Companies utilising the Simplified Debt Restructuring Programme (SDRP) requiring extensive, multi-party creditor discussions and complex operational plans.
Do you need a lawyer?
No — legal representation is not required. The Simplified Insolvency Programme is specifically designed to be an accessible, administrative, and low-cost pathway managed by the Official Receiver. Companies can apply directly without formal legal representation. WeCare handles the entire analytical and documentation process, saving you substantial corporate expenses.
Questions people ask us
Having to restructure or close a business you built with your own sweat and tears is a painful emotional journey. To support small businesses, the Singapore government permanently established the Simplified Insolvency Programme (SIP 2.0) under the IRDA. To qualify, your company must have an annual sales turnover not exceeding S$10 million, no more than 30 employees, liabilities not exceeding S$2 million, and (for simplified winding up) at least 50% of creditors by value must consent. WeCare approaches your business records with deep respect, conducting a precise audit to verify if your firm meets these statutory thresholds while offering a supportive hand during this transition.
When closing a company, the last thing you need is a protracted, expensive, and stressful process. Under Part 11A of the IRDA, the Simplified Winding Up Programme (SWUP) is a fast-tracked, lower-cost alternative to traditional court-ordered winding up. The Official Assignee (or an appointed liquidator) administers the assets under an expedited statutory timeline, resolving claims without requiring a formal Committee of Inspection. WeCare manages this entire administrative process for you, taking the heavy burden of creditor correspondence off your shoulders so you can focus on healing and your next chapter.
Your family's personal security is paramount, and it is completely normal to lie awake worrying if business debts will impact your personal home or savings. Under Singapore's company law framework and Section 19 of the Companies Act 1967, a private limited company is a separate legal entity, meaning directors and shareholders enjoy limited liability. Your personal assets are legally protected unless you have signed personal guarantees, or if there is evidence of fraudulent trading under Section 239 of the IRDA. WeCare performs a diligent, protective review of your corporate contracts and guarantees to ensure your personal assets remain safe and secure.
Take the first step
A free, confidential assessment of where you stand — no obligation, and no judgement. We will tell you honestly if this is not the right route for you.
Important: WeCare Consultancy Pte. Ltd. is a consultancy and is not a law firm. The information on this page describes Singapore statutory processes in general terms and is not legal advice, nor a determination of your eligibility for any scheme. Where a matter requires legal representation, we will say so and help you engage an appropriately qualified professional. Statutory references and monetary thresholds are current as at August 2026 and may change. Please speak to us about your own circumstances before acting on anything here.