61. Grounds of bankruptcy application
Feedback & supportLast amended by an amending law of 2005.
No bankruptcy application shall be made to the court in respect of any debt or debts unless at the time the application is made —
bankruptcy application
“bankruptcy application” means an application to the court for a bankruptcy order;
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.
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.