Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 9 · Provisions Applicable in Judicial Management and Winding Up
244. Inquiry into company’s dealings, etc.
Feedback & supportLast amended by an amending law of 2022. 2 amendments in all.
Where a company is in judicial management or is being wound up, the Court may, on the application of any person mentioned in subsection (2), summon to appear before the Court —
company
“company” has the meaning given by section 4(1) of the Companies Act 1967;
any officer of the company;
any person who was previously an officer of the company;
any person known or suspected to have in his or her possession any property of the company or supposed to be indebted to the company; or
any person whom the Court thinks capable of giving information concerning the promotion, formation, business, dealings, affairs or property of the company, including any banker, solicitor or auditor,and the Court may require any person mentioned in paragraphs (a) to (d) to submit an affidavit to the Court containing an account of the person’s dealings with the company or to produce any books, papers or other records in the person’s possession or under the person’s control relating to the promotion, formation, business, dealings, affairs or property of the company.
The persons mentioned in subsection (1) are —
in the case of a company in judicial management, the judicial manager;
in the case of a company being wound up, the Official Receiver or liquidator; or
in either case, a creditor or contributory of the company with the permission of the Court.
In a case where a person, without reasonable excuse, fails to appear before the Court when he or she is summoned to do so under this section or there are reasonable grounds for believing that a person has absconded, or is about to abscond, with a view to avoiding his or her appearance before the Court under this section, the Court may, for the purpose of bringing that person and anything in his or her possession before the Court, cause a warrant to be issued to a police officer —
for the arrest of that person; and
for the seizure of any books, papers, records, money or goods in that person’s possession,and may authorise a person arrested under such a warrant to be kept in custody, and anything seized under such a warrant to be held until that person is brought before the Court under the warrant or until such other time as the Court may order.
Any person who appears or is brought before the Court under this section may be examined on oath concerning the promotion, formation, business, dealings, affairs or property of the company.
property
“property” includes —(a)money, goods, things in action, land and every description of property, wherever situated; and(b)obligations and every description of interest, whether present or future or vested or contingent, arising out of or incidental to property;
The Court may —
direct that an examination under subsection (4) be held before any District Judge, who has for the purposes of the examination the same powers as the Court of examining witnesses, of requiring the production or delivery of documents, of punishing defaults by witnesses and of allowing costs and expenses to witnesses; or
direct that an examination under subsection (4) be held in public.
If it appears to the Court, on consideration of any evidence obtained under this section, that any person has in the person’s possession any property of the company, the Court may, on the application of the judicial manager, Official Receiver or liquidator, order that person to deliver the whole or any part of the property to the judicial manager, Official Receiver or liquidator (as the case may be) at such time, in such manner and on such terms as the Court thinks fit.
judicial manager
“judicial manager”, in relation to a company, means a person appointed under this Part to manage the company and its affairs, business and property, but does not, unless a contrary intention appears, include an interim judicial manager;
If it appears to the Court, on consideration of any evidence obtained under this section, that any person is indebted to the company, the Court may, on the application of the judicial manager, Official Receiver or liquidator, after examining that person on the matter, order that person to pay to the judicial manager, Official Receiver or liquidator (as the case may be), at such time and in such manner as the Court may direct, the whole or any part of the amount due, whether in full discharge of the debt or otherwise, as the Court thinks fit.
debt
“debt” means any debt, or any liability to pay money, that is unsecured, present, certain, and of an amount that is fixed or liquidated;
The Court may, if it thinks fit, order that any person, who if within Singapore would be summoned to appear before it under this section, be examined in a place outside Singapore.