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IN-HOUSE TRAINING & CERTIFICATION PROGRAMMES

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LEGAL ASPECTS OF BANKRUPTCY

Date: 7 Jul '09
Time: 9:00am - 5:00pm

CPE/CPD: 7 hrs

1 About the seminar
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Why should you attend?

Insolvency law is relevant to virtually all aspects of commercial activity because of the potential for both personal and corporate indebtedness to arise, especially in the present economic climate.  You may be affected either as the debtor (the indebted party) or as the creditor (in trying to recover payment from a debtor).  We have seen, in recent times, the impact that insolvencies - large and small - can have on shareholders, employees, creditors and the community.
This Programme is a two-day course that will provide an introduction to the legal aspects of insolvency covering practical insights into the legal issues, considerations and pitfalls to be aware of during an insolvency process. You will understand your basic legal rights and liabilities, both as a debtor and a creditor.

The topics to be covered relate to both personal and corporate insolvency.

Key Topics

  • Legal aspects of the roles, rights and obligations of administrators (in bankruptcy) and receivers, judicial managers and liquidators (in corporate insolvency).
  • Priority of debts and distribution including employee entitlements
  • Key concepts in winding up (liquidation) proceedings, powers of recovery, pari passu principle, avoidance of transactions, proofs of debts, and set-off
  • Receivership, judicial management and schemes of  arrangement as alternative procedures to the liquidation of a company.
  • Case studies


1 Who should attend?
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New entrants into the field of insolvency practice:
Accounting Practitioners, Auditors, Business Advisors, Company Secretaries, Chartered Secretaries, Accountants; also Directors

 

1 Outline
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1. Primary Legislation

2. Grounds for Presenting Bankruptcy Application

3. Presumption of Inability to Pay Debts

4. Conditions to be Satisfied in Respect of Debtor

5. Who May Present an Application for a Bankruptcy Order

6. The Statutory Demand for Payment

     (a) Form and Content
     (b) Information to be Given in Statutory Demand
     (c) Service of Statutory Demand

7. The Application for a Bankruptcy Order

     (a) Against an Individual
     (b) Against a Firm

8. The Bankruptcy Order

9. Effect of the Bankruptcy Order

10. Some Disqualification/Disabilities of a Bankrupt

11. The Official Assignee as Interim Receiver of the Debtor’s Property

12. Some General Duties of the Official Assignee as Receiver and Manager of the Bankrupt’s Estate

13. Trustee in Bankruptcy

14. Proofs of Debts

15. Bankrupt’s Statement of Affairs

16. Examination of Bankrupt Regarding His Affairs, Dealing and Properties

17. Unenforceability of Lien on Books of the Bankrupt

18. Priority of Debts

19. Transactions at an Undervalue

20. Unfair Preferences

21. Extortionate Credit Transactions

22. Uncompleted Execution

23. Composition or Scheme of Arrangement

24. Distribution by Means of Dividend

25. Annulment of Bankruptcy Order

26. Discharge of Bankruptcy Order

27. Effect of Discharge of Bankruptcy Order



1 Facilitator
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Mrs. Margaret George is an Advocate and Solicitor of Singapore. She has been in legal practice since 1986, and is a Consultant in a local law firm.

Her main area of practice is general litigation, involving company law/directors’ duties/shareholders’ claims, construction-related claims, contractual claims, debt recovery, defamation, negligence, principal-agency claims, landlord-tenancy claims, and probate and estate matters.

She had been a trainer for about 13 years and now conducts ad-hoc or in-house training for banks and other financial institutions in subjects such as Agency Law, Banking Law, Cheques and Negotiable Instruments, Secured Lending by Banks, Contract Law, Defamation, Insolvency Law, Probate, Wills and Estates and Negligence.




If you are having trouble registering online then you may download and fill out this registration form and fax it to (65) 65090292.