Singapore legislation

Regulation 58

of Insolvency, Restructuring and Dissolution (Bankruptcy) Regulations 2020

Regulation 58

Adjudication and notice to creditor

Subregulation 1

The trustee of a bankrupt’s estate must examine every proof of debt filed with the trustee and the grounds of the debt, and in writing admit or reject the proof in whole or in part or require further evidence or information in support of the proof.

Subregulation 2

Any further evidence or information mentioned in paragraph (1) which is required by the trustee must be submitted by the creditor in question within such time as the trustee may reasonably require.

Subregulation 3

Where a creditor’s proof has been admitted by the trustee, the notice of dividend to the creditor is sufficient notification to the creditor of the admission.

Subregulation 4

Where a creditor’s proof has been rejected by the trustee in whole or in part —

(a)

the trustee must issue the trustee’s notice of rejection of the proof of debt to the creditor in Form BR-11 stating the grounds of the rejection; and (b)the creditor may, within 14 days after the date of the trustee’s notice of rejection mentioned in sub-paragraph (a), submit further evidence and information to the trustee in support of the proof.

Subregulation 5

The trustee must examine the further evidence and information submitted by the creditor under paragraph (4)(b) and, within 21 days after the expiry of the 14 days mentioned in that provision —

(a)

issue the trustee’s notice of confirmation of the trustee’s decision; or

(b)

issue the trustee’s notice of revocation of the trustee’s decision, and admit the proof in question in whole or in part or vary its amount.

Subregulation 6

The notice of confirmation or notice of revocation mentioned in paragraph (5) must be in Form BR-12.

Subregulation 7

Without affecting paragraphs (4)(b) and (5), if the trustee considers that a proof has been wrongly rejected in whole or in part, the trustee may on his or her own motion and within 21 days after the date of the trustee’s notice of rejection mentioned in paragraph (4)(a) issue a notice of revocation of the trustee’s decision in Form BR‑12, and may admit the proof in whole or in part or vary its amount.