Singapore legislation

Clause 307

of Insolvency, Restructuring and Dissolution Bill

Clause 307

Persons who may make creditor’s bankruptcy application

(1)

Subject to this Part, a creditor’s bankruptcy application may be made —

(a)

against an individual by —

(i)

one of the individual’s creditors or jointly by more than one of them; or

(ii)

the nominee supervising the implementation of, or any person (other than the individual) who is for the time being bound by, a voluntary arrangement proposed by the individual and approved under Part 14; or

(b)

against a firm by —

(i)

one of the firm’s creditors or jointly by more than one of them, if such creditor or creditors are entitled under paragraph (a)(i) to make a creditor’s bankruptcy application against any one of the partners in the firm in respect of a partnership debt; or

(ii)

the nominee supervising the implementation of, or any person (other than the partners in the firm) who is for the time being bound by, a voluntary arrangement proposed by the firm and approved under Part 14.

(2)

A creditor who is entitled to make a bankruptcy application against a firm under subsection (1)(b) may make a bankruptcy application against any of the partners in the firm without including the others.

(3)

Every creditor’s bankruptcy application must be in the prescribed form and be supported by an affidavit of the creditor or of some person on the creditor’s behalf having knowledge of the facts.

(4)

Every creditor’s bankruptcy application must be served in the manner prescribed.

Read in full context — Insolvency, Restructuring and Dissolution Bill →