No.
While a bankrupt has not been discharged or released, all his or her assets will be administered by the Official Assignee.
A bankrupt's debt must be settled through the Official Assignee. The Official Assignee will disposed the bankrupt's assets to pay the creditors and costs.
A creditor's act in accepting payment from the third party is an offence under Section 115(2) of the Bankruptcy Act 1967
| Receiving and Adjudication Order made |
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| Creditors to file Proof of Debt General Form and Proxy |
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| Court to appoint a Receiver which is usually the Official Assignee |
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Among others the duties of the Receiver include :
(a) Trace and monitor conduct of the bankrupt
(b) Administer the bankrupt's estate
(c) Insert the Receiving Order in the government gazette and newspaper
(d) Extending a blank statement of affairs for completion by the bankrupt
(e) Extending Proof of Debt's form to the other creditors
(f) Prepare reports for the creditors
(g) Organize meetings of creditors |
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| Official Assignee to serve copy of Receiving and Adjudication Order on the bankrupt |
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Official Assignee to call the first Creditor's meeting.
A second or subsequent meetings may be held if required.
(a) The meeting will be chaired by the Official Assignee.
(b) Creditors or representatives shall attend.
(c) Bankrupt's attendance is compulsory.
(d) The first Creditor's meeting shall be held no later than 3 month after the Receiving and Adjudication Order unless if the bankrupt cannot be traced. |
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Public examination of the bankrupt will be conducted before the High Court Registrar and he or she will be ordered to pay the Official Assignee monthly a certain sum of money within his or her means.
The Court may postpone or request for another date of examination as and when required.
(a) To be conducted after first Creditor's meeting
(b) Bankrupt's attendance is compulsory
(c) Creditors or representatives shall attend
(d) To be conducted before the Senior Assistant Registrar In Chambers |
