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Number of bankruptcy applications at the lowest since October 2016

This comes from temporary laws having raised the debt thresholds for personal bankruptcy and corporate insolvency; also, courts are holding off on hearing insolvency cases

Kelly Ng

Published Thu, May 14, 2020 · 09:50 PM

Bankruptcy

Singapore

PERSONAL bankruptcy applications in Singapore have fallen to the lowest since October 2016 with temporary legal provisions having kicked in last month, and as non-urgent proceedings take a hiatus amid tightened lockdown measures.

The number of individuals applying for bankruptcy was 160 in April, a 65 per cent dip from the 462 cases in March - the highest monthly figure this year thus far.