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Disposal of outstanding interests under section 214 of Act

Insolvency, Restructuring and Dissolution (Court-Ordered Winding Up) Regulations 2020

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—(1) Where the Official Receiver intends to sell or otherwise dispose of or deal with an estate (or any part of an estate) or any property or interest in property under section 214(1) of the Act, the Official Receiver must give notice of the intention —(a)by publication in the Gazette; and(b)by giving any other notice (including publication in an English local daily newspaper or a notice given outside Singapore) that the Official Receiver thinks necessary, taking into account the location of the estate or property.(2) The notice must state that a person who is legally or beneficially interested in the estate, property or interest must, within the time (not being less than 2 months) specified in the notice, inform the Official Receiver in writing of the nature of the person’s interest in the estate, property or interest.(3) At the expiration of the time specified in the notice, the Official Receiver may sell or otherwise dispose of or deal with the estate, property or interest in accordance with section 214 of the Act.

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