Sylvia Lim on Insolvency, Restructuring and Dissolution (Amendment) Bill
What has been learned over the past five years, since private trustees in bankruptcy (PTIBs) started to be used in cases involving institutional creditors? This question was raised by MP Sylvia Lim in Parliament on Monday (Jan 9) during the debate on a Bill proposing to extend the use of PTIBs to non-institutional creditors and voluntary bankruptcies. She asked if there have been any complaints by creditors or debtors and if so, of what nature - for instance, issues involving neutrality or efficiency. She also wanted to know what resources will be available to help non-institutional creditors and debtors choose an insolvency practitioner as a PTIB.
What has been learned over the past five years, since private trustees in bankruptcy (PTIBs) started to be used in cases involving institutional creditors? This question was raised by MP Sylvia Lim in Parliament on Monday (Jan 9) during the debate on a Bill proposing to extend the use of PTIBs to non-institutional creditors and voluntary bankruptcies. She asked if there have been any complaints by creditors or debtors and if so, of what nature - for instance, issues involving neutrality or efficiency. She also wanted to know what resources will be available to help non-institutional creditors and debtors choose an insolvency practitioner as a PTIB.
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