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New bankruptcy rules kick in from August

Minimum debt for someone to be made bankrupt raised to S$15,000 from S$10,000

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Published Wed, Jul 27, 2016 · 09:50 PM

    Singapore

    NEW rules under Singapore's bankruptcy framework to create a more "rehabilitative environment" for bankrupts will come into force from August, the Ministry of Law (MinLaw) said on Wednesday.

    The minimum debt amount that needs to be owed before a person may be made bankrupt will be increased to S$15,000, from S$10,000. This accounts for inflation since 2000.

    Ministry of Law

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