Persons who may make creditor’s bankruptcy application
307.—(1)  Subject to this Part, a creditor’s bankruptcy application may be made —
(a)against an individual by —
(i)one of the individual’s creditors or jointly by more than one of them; or
(ii)the nominee supervising the implementation of, or any person (other than the individual) who is for the time being bound by, a voluntary arrangement proposed by the individual and approved under Part 14; or
(b)against a firm by —
(i)one of the firm’s creditors or jointly by more than one of them, if such creditor or creditors are entitled under paragraph (a)(i) to make a creditor’s bankruptcy application against any one of the partners in the firm in respect of a partnership debt; or
(ii)the nominee supervising the implementation of, or any person (other than the partners in the firm) who is for the time being bound by, a voluntary arrangement proposed by the firm and approved under Part 14.
(2)  A creditor who is entitled to make a bankruptcy application against a firm under subsection (1)(b) may make a bankruptcy application against any of the partners in the firm without including the others.
(3)  Every creditor’s bankruptcy application must be in the prescribed form and be supported by an affidavit of the creditor or of some person on the creditor’s behalf having knowledge of the facts.
(4)  Every creditor’s bankruptcy application must be served in the manner prescribed.
Conditions to be satisfied in respect of debtor
310.—(1)  No bankruptcy application may be made to the Court under section 307(1)(a) or 308(1)(a) against an individual debtor unless the debtor —
(a)is domiciled in Singapore;
(b)has property in Singapore; or
(c)has, at any time within the period of one year immediately preceding the date of the making of the application —
(i)been ordinarily resident or has had a place of residence in Singapore; or
(ii)carried on business in Singapore.
(2)  No bankruptcy application may be made to the Court under section 307(1)(b) or 308(1)(b) against a firm unless —
(a)at least one of the partners in the firm —
(i)is domiciled in Singapore;
(ii)has property in Singapore; or
(iii)has, at any time within the period of one year immediately preceding the date of the making of the application, been ordinarily resident or has had a place of residence in Singapore; or
(b)the firm has, at any time within the period of one year immediately preceding the date of the making of the application, carried on business in Singapore.
(3)  The reference in subsection (1)(c)(ii) to an individual carrying on business in Singapore includes —
(a)the carrying on of business in Singapore by a firm in which the individual is a partner; and
(b)the carrying on of business in Singapore by an agent or a manager for the individual or for such a firm.
Grounds of bankruptcy application
311.—(1)  Subject to section 314, no bankruptcy application may be made to the Court in respect of any debt or debts unless at the time the application is made —
(a)the amount of the debt, or the aggregate amount of the debts, is not less than $15,000;
(b)the debt or each of the debts is for a liquidated sum payable to the applicant creditor immediately;
(c)the debtor is unable to pay the debt or each of the debts; and
(d)where the debt or each of the debts is incurred outside Singapore, such debt is payable by the debtor to the applicant creditor by virtue of a judgment or an award which is enforceable by execution in Singapore.
(2)  The Minister may, by order in the Gazette, amend subsection (1)(a) by substituting a different sum for the sum for the time being specified in that provision.
Presumption of inability to pay debts
312.  For the purposes of a creditor’s bankruptcy application, a debtor is, until the debtor proves to the contrary, presumed to be unable to pay any debt within the meaning of section 311(1)(c) if the debt is immediately payable and any one of the following applies:
(a)the applicant creditor to whom the debt is owed has served on the debtor in the prescribed manner, a statutory demand, and —
(i)at least 21 days have elapsed since the statutory demand was served; and
(ii)the debtor has neither complied with it nor applied to the Court to set it aside;
(b)execution issued against the debtor in respect of a judgment debt owed to the applicant creditor has been returned unsatisfied in whole or in part;
(c)the debtor has departed from or remained outside Singapore with the intention of defeating, delaying or obstructing a creditor in the recovery of the debt;
(d)the Official Assignee has —
(i)issued a certificate of inapplicability of a debt repayment scheme under section 299;
(ii)issued a certificate of failure of a debt repayment scheme under section 300(1); or
(iii)revoked a certificate of completion of a debt repayment scheme under section 302(1),
in respect of the debtor within 90 days immediately preceding the date on which the bankruptcy application is made, and the applicant creditor had proved the debt under that debt repayment scheme.
Where applicant for bankruptcy order is secured creditor
313.—(1)  Where the applicant for a bankruptcy order is a secured creditor of the debtor, the applicant must in the application —
(a)state that the applicant is willing, in the event of a bankruptcy order being made, to give up the security for the benefit of the other creditors of the bankrupt; or
(b)give an estimate of the value of the security, in which case the applicant may to the extent of the balance of the debt due to the applicant, after deducting the value so estimated, be admitted as a creditor in the same manner as if the applicant were an unsecured creditor.
(2)  Where an applicant for a bankruptcy order who is a secured creditor of the debtor fails to disclose the applicant’s security in the application, the applicant is deemed to have given up the security for the benefit of the other creditors of the debtor and upon the making of a bankruptcy order —
(a)the applicant is not entitled to enforce the security against the estate of the bankrupt or to retain any proceeds from the realisation of the security; and
(b)the applicant must execute such document of release as is required by the Official Assignee or account and pay over to the Official Assignee all proceeds from any realisation of the security.
(3)  Where any secured creditor fails to execute any document of release as is required by the Official Assignee under subsection (2)(b), the Official Assignee may execute the document on behalf of the secured creditor, and the execution of the document by the Official Assignee has the same effect as the execution of that document by the secured creditor.
(4)  Any secured creditor who fails to account or pay over to the Official Assignee the proceeds from any realisation of the security under subsection (2)(b) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $15,000 or to imprisonment for a term not exceeding 3 years or to both.
(5)  Any fine imposed under subsection (4) is deemed to be part of the property of the bankrupt and vests in the Official Assignee for the purposes of this Act.