SIAC Introduces Restructuring and Insolvency Protocol and Announces Plans for an Institute of Ethics

The Singapore International Arbitration Centre (“<span class="news-text_medium">SIAC</span>”) has announced two significant initiatives:

• the launch of the SIAC Restructuring and Insolvency Arbitration Protocol (“<span class="news-text_medium">RIA Protocol</span>”); and
• the forthcoming establishment of an Institute of Ethics in International Arbitration (“<span class="news-text_medium">IEIA</span>”).

The SIAC RIA Protocol

Effective from 26 August 2025, the SIAC RIA Protocol is available on the <a href="https://siac.org.sg/restructuring-and-insolvency-arbitration-ria-protocol" target="_blank" class="news-text_link">SIAC website</a>.

The SIAC RIA Protocol represents the first initiative by an international arbitration institution to introduce a dedicated framework for the resolution of restructuring and insolvency-related disputes. Its application requires party agreement and involves modifications to the SIAC Rules to enhance efficiency and ensure the process is adapted to the unique features of such disputes.

The protocol was developed following extensive consultation with judges in Singapore and abroad, insolvency and arbitration specialists, practitioners and the SIAC Court of Arbitration, alongside feedback received during a public consultation held between December 2024 and January 2025.

The SIAC RIA Protocol is supported by:

1. A <a href="https://siac.org.sg/siac-specialist-panel-of-arbitrators-for-restructuring-and-insolvency-disputes" target="_blank" class="news-text_link">Specialist Panel</a> for Restructuring and Insolvency Disputes.
2. A <a href="https://siac.org.sg/guidance-note-for-parties-and-tribunal-on-cases-administered-under-the-siac-ria-protocol" target="_blank" class="news-text_link">Guidance Note</a> for Parties and Tribunals on cases administered under the RIA Protocol.
3. <a href="https://siac.org.sg/siac-ria-protocol-model-clauses" target="_blank" class="news-text_link">Model Clauses</a> for parties wishing to submit disputes to arbitration under the RIA Protocol.

The Institute of Ethics in International Arbitration

SIAC also announced the creation of the IEIA, highlighting its commitment to upholding fairness and integrity in arbitral practice. The IEIA will focus on advancing ethical standards by undertaking cutting-edge research, providing specialised training programmes and leading initiatives designed to define, codify and promote best practices for arbitrators and counsel engaged in international arbitration.

In essence, the RIA Protocol builds on the existing SIAC Rules but adapts them with measures designed to suit the restructuring and insolvency context. By shortening timelines, encouraging tribunals to address procedural and jurisdictional issues early, setting Singapore as the default seat and law and simplifying tribunal composition, the Protocol aims to streamline proceedings. Supported by a dedicated Specialist Panel and practical guidance for users, it provides parties with a framework that is both efficient and responsive to the complexities of restructuring and insolvency disputes.