What are the terms and conditions for me as a creditor to file a debtor for bankruptcy?

Our company have some debtors who failed to pay their debt of over S$15,000 for motre than two months. The debtors are also suspected to have left the country to avoid paying their debt which would cause our company a huge amount of loss. This is the reason why we want to file the debtors for bankruptcy. What are the terms for us to be able to do so?

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    No Name

    When the Bankruptcy order was signed,creditors are given the choice to file their debtors for bankruptcy if they meet the following conditions: The debtor failed to comply wit a statutory demand to pay the debt for at least 21 days and the debtor failed to comply with a court issued execution. Debtors who also fled the country could also be subjected for filing.

    2020.03.24 15:44
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      Alliance Credit

      We are offering Loans/Investment funding for profitable project at a flexible rate, ranging from individuals, companies and traders globally.. My firm has recorded a lot of breakthroughs in provision of first class financial services to our clients especially in the area of Loan syndication and capital provision to individual and companies. Serious borrowers should reply to our email: alliancecredit@aol.com

      2021.08.17 11:22

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