Bankrupts celebrate as they can get an annulment and wipe the slate clean

Like an unhappily married partner, new laws will allow Singaporean bankrupts who have their bankruptcy anulled to have any record of it expunged from the record.

The Insolvency and Public Trustee’s Office (IPTO) will no longer make available information on bankruptcy orders which have been annulled on its online information search service.

This will apply with immediate effect to all persons who have had the bankruptcy orders made against them annulled, whether by way of an order of the High Court or a certificate issued by the Official Assignee under section 123A or section 95A of the Bankruptcy Act (Cap. 20).

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