Bankruptcy Act · 1985 Revised Edition · Part I · Proceedings from Act of Bankruptcy to Discharge
8. Effect of receiving order
Feedback & supportOn the making of a receiving order the Official Assignee shall be thereby constituted receiver of the property of the debtor, and thereafter, except as directed by this Act, no creditor to whom the debtor is indebted in respect of any debt provable in bankruptcy shall have any remedy against the property or person of the debtor in respect of the debt, or shall commence any action or other legal proceeding in respect of such debt unless with the leave of the court and on such terms as the court may impose.
property
“property” includes money, goods, things in action, land and every description of property, whether real or personal and whether situate in Singapore or elsewhere; also obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of or incident to property as above defined;
This section shall not affect the power of any secured creditor to realise or otherwise deal with his security in the same manner as he would have been entitled to realise or deal with it if this section had not been passed.
secured creditor
“secured creditor” means a person holding a mortgage, charge or lien on the property of the debtor or any part thereof as a security for a debt due to him from the debtor;
On a receiving order being made against a debtor he shall, within 24 hours after the making of the order, file an affidavit in the office of the Official Assignee, containing a true and correct statement of the names and residences of all the partners, if any, in his business and of his principal assets and liabilities. Such statement shall for the purposes of this Act be deemed to be part of the debtor’s statement of his affairs referred to in section 16.
On such order being made against a debtor the Official Assignee shall forthwith take possession of all books of account and other papers and documents in the possession, custody or control of the debtor relating to his property or affairs, and may take into his possession all or any deeds, books, documents and other property of the debtor.