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Apr 1, 2022 · In Singapore, bankruptcy is a legal process involving an individual or firm that is unable to repay any outstanding debt of at least $15,000. The General Division of the High Court is the only court that hears bankruptcy applications.
Duties and Responsibilities of a Bankrupt. 1. Contributions to Bankruptcy Estate. (a) Must I contribute any income to my bankruptcy estate? If you are gainfully employed, you must make a monthly contribution to your bankruptcy estate for the benefit of your creditors.
BANKRUPTCY Insolvency Search Enquiry service that enables you to ascertain the bankruptcy status of persons. Estimated time to complete: 5-10 minutes. BANKRUPTCY Insolvent Person's Portal Portal for insolvent individuals to transact with the Insolvency Office. BANKRUPTCY Creditor's Portal Portal for creditors to transact with the Insolvency Office.
Apr 1, 2022 · As a debtor, you may apply to make yourself a bankrupt, or your creditors may apply to make you a bankrupt. In either case, you should consider what it means to be a bankrupt and the alternative options.
All bankruptcy cases are to be handled by private trustees in bankruptcy with effect from 1 November 2023, except for cases where the Official Assignee considers that there is public interest and consents to be appointed as the trustee in bankruptcy.
Apr 24, 2024 · How Does Bankruptcy Work? A debtor can voluntarily file for bankruptcy in Singapore if they owe and cannot repay debts of at least S$15,000. Alternatively, the debtor’s creditors can also file to make the debtor bankrupt if they don’t think the debtor can repay the debts owed to them.
Impact of Bankruptcy. Responsibilities and Rights of a Bankrupt. Assets of a Bankrupt. Exiting Bankruptcy. Bankruptcy Information Sheet for Debtors & Bankrupts. User Guide for eServices
