Singapore legislation
Section 49
Section 49
Restriction of rights of creditor under execution or attachment
(1)
Where a creditor has issued execution against the goods or lands of a debtor, or has attached any debt due, or property belonging to him, he shall not be entitled to retain the benefit of the execution or attachment against the Official Assignee unless he has completed the execution or attachment before the date of the receiving order and before notice of the presentation of any bankruptcy petition by or against the debtor, or of the commission of any available act of bankruptcy by the debtor.
(2)
For the purposes of this Act —
an execution against goods or land is completed by seizure and sale, or in the case of an equitable interest in land by the appointment of a receiver;
an attachment of a debt is completed by receipt of the debt;
an attachment of property is completed by the sale of such property and the satisfaction out of the proceeds of the sale of the judgment in execution of which the attachment was made.