Singapore legislation
Section 61
Section 61
Grounds of bankruptcy application
(1)
No bankruptcy application shall be made to the court in respect of any debt or debts unless at the time the application is made —
the amount of the debt, or the aggregate amount of the debts, is not less than $10,000;
the debt or each of the debts is for a liquidated sum payable to the applicant creditor immediately;
the debtor is unable to pay the debt or each of the debts; and
where the debt or each of the debts is incurred outside Singapore, such debt is payable by the debtor to the applicant creditor by virtue of a judgment or an award which is enforceable by execution in Singapore.
(2)
The Minister may, by order published in the Gazette, amend subsection (1)(a) by substituting a different sum for the sum for the time being specified therein.