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PARLIAMENT

Bankruptcy action: Bank costs may go up

Changes proposed for govt to step back in cases involving institutional creditors

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Banks and other institutional creditors will have to bear a much higher cost when collecting debt from individuals by having them declared bankrupt - as the government steps back from this process, and shifts most of the burden to corporations.

Singapore

BANKS and other institutional creditors will have to bear a much higher cost when collecting debt from individuals by having them declared bankrupt - as the government steps back from this process, and shifts most of the burden to corporations.

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