Singapore legislation
Regulation 10
of Insolvency, Restructuring and Dissolution (Court-Ordered Winding Up) Regulations 2020
Regulation 10
Discount
Subregulation 1
Subject to paragraph (2), a creditor proving the creditor’s debt must deduct from the claim all trade and other discounts that would have been available to the company but for the company’s liquidation.
Subregulation 2
The creditor is not required to deduct any discount (not exceeding 5% on the net amount of the creditor’s claim) for immediate, early or cash settlement of the creditor’s claim.