Singapore legislation

Regulation 60

of Insolvency, Restructuring and Dissolution (Personal Insolvency) Rules 2020

Regulation 60

Application for review of decision of creditors’ meeting

Subregulation 1

A person who makes an application for the Court to review a decision of the creditors’ meeting under section 285 of the Act must —

(a)

serve a copy of the application on the debtor and nominee in question at least 3 days before the date of the hearing of the application; and

(b)

serve sealed copies of any order made by the Court on the application on the debtor and nominee in question.

Subregulation 2

If the order includes a direction by the Court under section 285(2)(b) of the Act for any further creditors’ meeting to be summoned, a copy of the order must also be given by the applicant to whoever is, in accordance with the direction of the Court, required to summon the meeting.

Subregulation 3

The debtor in question must —

(a)

upon receiving a copy of the Court’s order, give notice of it to —

(i)

any person who was sent a notice summoning the creditors’ meeting under regulation 11(1) of the Voluntary Arrangements Regulations;

(ii)

any person who attended the creditors’ meeting which approved the debtor’s proposal; and

(iii)

such other persons as the Court directs; and

(b)

within 7 days after the service of the order (or within such longer period as the Court may allow), give notice to the Court whether the debtor intends to make a revised proposal to the creditors, or to invite re-consideration of the original proposal.

Read in full context — Insolvency, Restructuring and Dissolution (Personal Insolvency) Rules 2020 →