In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 16 · Proceedings in Bankruptcy
314. Expedited bankruptcy application
Feedback & supportA creditor’s bankruptcy application which relies on a statutory demand may be made before the end of the period of 21 days mentioned in section 312(a), if —
creditor
Defined · s 273
“creditor”, in relation to a debtor proposing a voluntary arrangement under Part 14, means a creditor to whom the debtor owes a debt provable in bankruptcy;
(a)
there is a serious possibility that the debtor’s property, or the value of all or any of the debtor’s property, will be significantly diminished during that period; and
debtor
Defined · s 288
“debtor” means the individual to whom a debt repayment scheme applies under this Part;
(b)
the application contains a statement to that effect.