Singapore legislation
Regulation 13
of Insolvency, Restructuring and Dissolution (Court-Ordered Winding Up) Regulations 2020
Regulation 13
Proof for debt payable at future time
Amended byS 266/2022 wef 01/04/2022
Subregulation 1
Amended byS 266/2022 wef 01/04/2022
A creditor may prove for a debt not payable on the date of the winding up order, as if it were so payable, and may receive dividends rateably with the other creditors, deducting only from the dividend a rebate of interest at the rate of interest on judgment debts provided for under the Rules of Court 2021 for the time being in force.
Subregulation 2
The rebate of interest is to be computed from the date of the declaration of a dividend to the date on which the debt would have become payable according to the terms on which it was contracted.