Singapore legislation
Regulation 5
Regulation 5
Adjudication of proofs of debt
Subregulation 1
The chairperson of a meeting must, at least 28 days before the meeting —
complete the adjudication of all proofs of debt filed by creditors for the purposes of voting at the meeting; and
send in writing the results of the adjudication of the proofs of debts to every creditor who has filed a proof of debt for the purposes of voting at the meeting.
Subregulation 2
The results of the adjudication mentioned in paragraph (1)(b) must list —
every creditor who has filed a proof of debt for the purposes of voting at the meeting;
the amount claimed under the proof of debt; and
the amount (if any) of the proof of debt admitted, and the amount (if any) rejected, by the chairperson.
Subregulation 3
If the company or any creditor who has filed a proof of debt for the purposes of voting at the meeting objects to the results of the adjudication of any proof of debt by the chairperson (called in this regulation the opposing party), the opposing party may, not later than 14 days before the meeting —
send a written request, seeking agreement for the appointment of an independent assessor, to —
the company, unless the opposing party is the company;
the chairperson; and
the creditor whose proof of debt will be affected by the decision of the independent assessor, unless the opposing party is that creditor; or
make an application to the Court for the appointment of an independent assessor under section 68(9)(b) of the Act.
Subregulation 4
The written request mentioned in paragraph (3)(a) must nominate a person to be appointed as the independent assessor and state the dispute that the independent assessor (if appointed) is to adjudicate.