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BT EXCLUSIVE

Joint bank accounts may come under more scrutiny in debt chase

Landmark ruling departs from previous position that such accounts can't be garnished

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In Singapore, a creditor can take various steps to enforce a judgment against a debtor if the latter refuses to comply, such as serving a garnishee order.

Singapore

CREDITORS can now legally seize money held in joint bank accounts under certain circumstances, the High Court ruled in a landmark judgment last month, departing from its previously-held position that joint accounts cannot be garnished as doing so may be unfair to the banks and...

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