Singapore legislation

Section 314

of Insolvency, Restructuring and Dissolution Act 2018

Section 314

Expedited bankruptcy application

A creditor’s bankruptcy application which relies on a statutory demand may be made before the end of the period of 21 days mentioned in section 312(a), if —

(a)

there is a serious possibility that the debtor’s property, or the value of all or any of the debtor’s property, will be significantly diminished during that period; and

(b)

the application contains a statement to that effect.

Read in full context — Insolvency, Restructuring and Dissolution Act 2018 →