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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    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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