Singapore legislation

Regulation 13

of Insolvency, Restructuring and Dissolution (Bankruptcy) Regulations 2020

Regulation 13

Removal of trustee in bankruptcy by creditors’ meeting

Subregulation 1

Where a trustee in bankruptcy has been directed by the Court or requested in writing under section 330(2) of the Act to summon a meeting of creditors for the purpose of removing the trustee in bankruptcy, the trustee in bankruptcy must, no later than 3 days after being so directed or receiving the written request (as the case may be), serve a notice summoning the meeting of creditors to —

(a)

the Official Assignee; and

(b)

every creditor who has proved the creditor’s debt at least 2 months before the date fixed for the meeting.

Subregulation 2

The notice summoning the meeting of creditors must state —

(a)

the purpose of the meeting; and

(b)

the date fixed for the meeting, which must not be later than 2 months after the date of that notice.

Subregulation 3

The trustee in bankruptcy must, not later than one month before the date fixed for the meeting of creditors, serve on the persons mentioned in paragraph (1)(a) and (b) —

(a)

a notice stating the name of any person who is proposed to be appointed in place of the trustee in bankruptcy; and

(b)

a report of the trustee in bankruptcy containing particulars of —

(i)

the total amount of debts owed to creditors who have filed proofs of debt;

(ii)

the property of the bankrupt comprised in the bankrupt’s estate and the status of the realisation of such property;

(iii)

the monthly contribution and target contribution for the bankruptcy;

(iv)

the payments that have been made by the bankrupt to the bankrupt’s estate;

(v)

any other payments that have been made to the bankrupt’s estate;

(vi)

any payments that have been made out of the bankrupt’s estate;

(vii)

any outstanding work to be done in relation to the administration of the bankruptcy; and

(viii)

such other information relating to the administration of the bankruptcy by the trustee in bankruptcy as is required by the Official Assignee.

Subregulation 4

Where it is decided by special resolution passed at the meeting of creditors that the trustee in bankruptcy be removed or a new trustee in bankruptcy be appointed, the chairperson of the meeting of creditors must, within 3 days after the resolution is passed, serve a notice of the resolution on the Official Assignee.

Read in full context — Insolvency, Restructuring and Dissolution (Bankruptcy) Regulations 2020 →