Singapore legislation

Clause 66

Proceedings on bankruptcy petition by nominee or creditor bound by voluntary arrangement

The court shall not make a bankruptcy order on a bankruptcy petition presented under section 57(1)(a)(ii) or (b)(ii) by the nominee or any creditor bound by a voluntary arrangement unless it is satisfied —

(a)

that the debtor has failed to comply with his obligations under the voluntary arrangement;

(b)

that information which was false or misleading in any material particular or which contained material omissions —

(i)

was contained in any statement of affairs or other document supplied by the debtor under Part V to any person; or

(ii)

was otherwise made available by the debtor to his creditors at or in connection with a meeting summoned under Part V; or

(c)

that the debtor has failed to do all such things as may for the purposes of the voluntary arrangement have been reasonably required of him by the nominee of the arrangement.

Read in full context — Bankruptcy Bill →