A Guide to Bankruptcy and Debt Recovery in Singapore

For some, a man is only as good as his word. There is logic in this, given that creditors (also known as moneylenders) often worry about whether borrowers will repay their debts. Debt recovery, after all, can be a tedious and frustrating process. Creditors may often receive no response despite calling, e-mailing, and sending letters to the borrower. Looking for them at their home or workplace may be a similarly futile endeavour. And on the off chance that the borrower can be contacted, a common refrain will be that the borrower has no money now, and will repay you later.

Deciding Priority between Two Competing Judgment Creditors: Singapore Air Charter Pte Ltd v Peter Low & Choo LLC and another [2020] 2 SLR 1399

Where a judgment in respect of a debt is concerned, a “judgment creditor” is the party to whom the debt is owed, and a “judgment debtor” is the party who has been ordered by the court to pay a sum of money – the “judgment debt” – to the judgment creditor. However, obtaining the court order alone will not necessarily provide the judgment creditor with satisfaction, as the judgment debtor may not want to, or may not be able to, satisfy the judgment debt.