Singapore legislation
Regulation 35
of Insolvency, Restructuring and Dissolution (Judicial Management) Regulations 2020
Regulation 35
Quorum
Subregulation 1
The creditors at a meeting of creditors may not act for any purpose unless there are present (either in person or by proxy) at the meeting —
at least 3 creditors entitled to vote; or
all the creditors entitled to vote if the number of the creditors entitled to vote does not exceed 3.
Subregulation 2
Paragraph (1) does not apply to the appointment of a chairperson, the proving of debts and the adjournment of the meeting.
Subregulation 3
If after half an hour from the time appointed for the meeting, a quorum of creditors is not present (either in person or by proxy), the meeting must be adjourned —
in a case of a meeting summoned by the judicial manager at the request of another person and no chairperson is appointed for the meeting — to the same day in the following week at the same time and place; or (b)in a case of a meeting where the judicial manager (or his or her nominee) is, or another person is appointed to be, the chairperson for the meeting — to another day that the chairperson may appoint (which is not less than 5 days and not more than 10 days after the day from which the meeting was adjourned), and at a time and place that the chairperson may determine.
Subregulation 4
If after half an hour from the time appointed for the adjourned meeting, a quorum of creditors is not present (either in person or by proxy), the adjourned meeting must be adjourned —
in a case of a meeting summoned by the judicial manager at the request of another person and no chairperson is appointed for the meeting — to another day and at a time and place that the judicial manager may determine; or
in a case of a meeting where the judicial manager (or his or her nominee) is, or another person is appointed to be, the chairperson for the meeting — to another day and at a time and place that the chairperson may determine.
Subregulation 5
Where the judicial manager (or his or her nominee) is, or another person is appointed to be, the chairperson for a meeting mentioned in paragraph (3) or (4), the chairperson must issue to the creditors —
in a case mentioned in paragraph (3)(b), a notice of adjournment of the meeting of creditors in accordance with Form JM‑3; or (b)in a case mentioned in paragraph (4)(b), a notice of proceedings at an adjourned meeting of creditors in accordance with Form JM‑4.
Subregulation 6
Where a meeting mentioned in paragraph (3) or (4) is summoned by the judicial manager at the request of another person and no chairperson is appointed, the judicial manager must issue to the creditors —
in a case mentioned in paragraph (3)(a) — a notice of adjournment of the meeting of creditors in accordance with Form JM‑3; or
in a case mentioned in paragraph (4)(a) — a notice of proceedings at an adjourned meeting of creditors in accordance with Form JM‑4.
Subregulation 7
The list of creditors assembled to be used at every meeting must be in accordance with Form JM‑5.