Bankrupt can issue company cheques!!
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In Singapore we cannot use body language, middle finger, or even verbal vulgarity in languages or dialects of any sort. Offenders can be charged by the police..correct me if I'm wrong.
But I just cannot understand, an undischarged bankrupt in singapore can issue company cheques in attempting or trying to deceive his personal creditor. This case was reported to the police but within 2 days was given reply that they cannot take any action due to insuficient evidence.
A copy of email from " Insolvency & Public Trustee's Office " and original cheques were provided as proof of such irresponsible action by an undischarge bankrupt is still insufficient. Can someone tell me what is sufficient evidence and what is in violation of the law.
Very confused. -
my years in the business world, this is something new to me
Imagine the distracities of any totiering available
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Originally posted by jojace155:In Singapore we cannot use body language, middle finger, or even verbal vulgarity in languages or dialects of any sort. Offenders can be charged by the police..correct me if I'm wrong.
But I just cannot understand, an undischarged bankrupt in singapore can issue company cheques in attempting or trying to deceive his personal creditor. This case was reported to the police but within 2 days was given reply that they cannot take any action due to insuficient evidence.
A copy of email from " Insolvency & Public Trustee's Office " and original cheques were provided as proof of such irresponsible action by an undischarge bankrupt is still insufficient. Can someone tell me what is sufficient evidence and what is in violation of the law.
Very confused. -
an undischarged bankrupt can still be employed by his company..
and therefore represents his company..
i don't see what's wrong with that...
if he uses his company funds for his own means or for fraud, then he'll face criminal charges...
you have said they have insufficient evidence.. therein, says a lot.. the cops have their hands tied... -
The police in their reply stated that there are insufficient evidence. My questions are...
1. The " Insolvency & Public Trustee's Office " email confirmed that he is still undischarged bankrupt.
2. The cheques issued were company's and " CASH "
As lay man, we will consider this as cheating case whereby the police can take action, but they claim " insufficient evidences ". What more evidences do they need than for them to take action?.
So I think it's better be a bankrupt, so you can issue any cheques to anybody, the police will not arrest you. It appears that it is not against the law. -
mine is this:
he is an undischarged bankrupt... but his COMPANY isn't in any problems...
if his company gives him the power to issue cheques, it is not HIM issuing the cheques... it is essentially the company that is issuing the cheques.. and it is not up to the police or anyone to say what goes on between his company and the bankrupt if the company decides that he can issue cheques FOR HIS COMPANY..Originally posted by jojace155:The police in their reply stated that there are insufficient evidence. My questions are...
1. The " Insolvency & Public Trustee's Office " email confirmed that he is still undischarged bankrupt.
2. The cheques issued were company's and " CASH "
As lay man, we will consider this as cheating case whereby the police can take action, but they claim " insufficient evidences ". What more evidences do they need than for them to take action?.
So I think it's better be a bankrupt, so you can issue any cheques to anybody, the police will not arrest you. It appears that it is not against the law. -
He is the company director of this Pte Ltd Co. The cheques were signed by him and to pay his personal debts.
Under the bankruptcy act, any undischarged bankrupt cannot be managing any company or business. Any affairs are handled by his official assignee unless with their written approval allowable by the high court.
Do you still think that he can represent the company to issue cheques to any body as he pleases?.
Can understand the rational. -
then, i dunno.. thought he was the employee...Originally posted by jojace155:He is the company director of this Pte Ltd Co. The cheques were signed by him and to pay his personal debts.
Under the bankruptcy act, any undischarged bankrupt cannot be managing any company or business. Any affairs are handled by his official assignee unless with their written approval allowable by the high court.
Do you still think that he can represent the company to issue cheques to any body as he pleases?.
Can understand the rational. -
Thank you " the Bear " n Master for your kind reply and advise.
Today, not only myself, but many I have the chance to consult are at a lost. An undischarged Bankrupt can issue cheques, signed by him, payment " CASH " and the police cannot take any action.!!!
Something which many would be bankrupt or possible victim should take note of. -
An undischarged bankrupt being a Registered Director of a Company is an offense - clear and simple.Originally posted by jojace155:He is the company director of this Pte Ltd Co. The cheques were signed by him and to pay his personal debts.
Under the bankruptcy act, any undischarged bankrupt cannot be managing any company or business. Any affairs are handled by his official assignee unless with their written approval allowable by the high court.
Do you still think that he can represent the company to issue cheques to any body as he pleases?.
Can understand the rational.
For a search fee of $5.00, this can be verified at the Registrar of Companies and Businesses, at International Plaza, 5th Floor, Anson Road.
A bankrupt is not allowed by the Official Assignee's office to operate any bank account - (especially Current Account), except a Savings Account and only with the approval of the OA's office.
If a bankrupt is not registered as a Director of a Company, but is allowed to operate a Current Account by the Registered Directors of the Company, the bankrupt has also committed an offense.
The Police can act on the instruction of the Official Assignee's Office, and it remains with the Official Assignee as the initiator of any prosecution action taken against the bankrupt.
The bankrupt can face a fine of $10,000 and jail sentence if the Official Assignee decide to act on any proven public complaint towards an undischarged bankrupt. -
Dear Atobe,
Thank you for your kind infos'. I have done a search on this company and he is still a director of this pte ltd company. Sometimes, the Rcb takes a while to have this info updated. I will try to do another search again.
I have also lodge a complain to the " Insolvency & Public Trustee's Office " giving them all hard copies prove and they will investigate this case.
Please correct me I if I'm wrong about my lay man underdstanding..
that any undischarged bankrupt is not suppose to issue any cheques signed by him >$500 to any person or entities and by doing so is amounting to " cheating / cbt ". It is than the duty of the police to take action or this is a civil case?.
Given the understanding by the senior investigating officer, from police station, that there is no law which states that a bankrupt is not allowed to issue any cheques signed by him. If this being the case, than I think this grey area should be amended and addressed to read aloud more clearly.
It doesn't make any sense that a official assignee administer all the affair of the bankrupt and the law does not forbid him to issue cheques, be it personal current or company current account and worse of all, he is still the Pte Ltd company Director.
I think the law is complicated already, shouldn't such clear cut case law be enforced more straight forward than having to go round the bush and some parties are also trying to dodge their responsibility.
These are alll my opinions. I think the public have always taken for granted that the police will take actions for cheating case, etc.... but many are unaware that there are many grey areas which can or cannot be enforced, all subjected to interpretations by the parties concerned, very confusing isn't it?.
Thank you all for your patience. 
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You are right that the Registrar of Companies and Businesses will take some time to update their records. However, you can approach the Counter to have them trace any outstanding updates for any particular company that you are specially interest in.
Bankrupts are NOT ALLOWED to sign or operate any Current Account - period, this is clearly stated in the Bankruptcy Act.
The Police will not step into a Civil Matter between two parties, but will act if a Criminal Offense had occurred and will depend on the nature and severity of the case (as in mass public cheating).
Unfortunately, from own experience, the Police will more then likely refer to the Official Assignee's Office, who will then seek further advise from the Attorney General's Chambers concerning prosecution.
Your Police Report can be submitted to the Official Assignee's Office for further IMMEDIATE and URGENT investigation on the matter.
You can demand to see the Case Officer responsible for managing the affairs of the particular Bankrupt, as with his NRIC number given to the OA's Reception Counter, his entire file can be retrieved and the Case Officer identified. -
The police report is withheld, only the initial report to the NPP is available. The statement was taken and summarise by the SIO and he has classififed this case as fraudulent debtors. All hard copy of evidences was provided to him whereby he has taken copies.
The OA is on long leave and i was referred to liase with the prosecution department. After 3 hours of statement writing and also providing hard copy evidences, they told me they will investigate and cannot tell me more.
With due respect to those bankrupt who really failed in their business or other sad circumstances, there are many unscrupolous fraudulent freaks who exploited these situations, and goes round conning innocent people's blood and sweat money.
After many cases, if should one victim takes up legal proceedings and they are made bankrupt, fine, they just use other peoples name, register new companies and continue cheating people money. Managing and mastermind such conning operations even though he may be a bankrupt, still driving new continental cars, staying in condominium, no stress, relaxing life.
We should join such brilliant people who knows the law and enjoy such previlege. -
You can continue writing to the Officer in charge of your case, and press for a status report, failing which you can write to the Commissioner of Police (after a reasonable period of one month) and lodge a complaint of Police inefficiency in a matter that affect the general public.Originally posted by jojace155:The police report is withheld, only the initial report to the NPP is available. The statement was taken and summarise by the SIO and he has classififed this case as fraudulent debtors. All hard copy of evidences was provided to him whereby he has taken copies.
Give them a period of one month, and follow up with either a letter or a telephone call to the person from the OA Prosecution Department, who last attended to you.
The OA is on long leave and i was referred to liase with the prosecution department. After 3 hours of statement writing and also providing hard copy evidences, they told me they will investigate and cannot tell me more.
If you do not receive any satisfactory response, you can write another letter of complaint to the Minister of Law, who is responsible for the affairs of the Official Assignee's Office.
You are ill advised to join such 'brilliant' but scheming minds that take advantage of a law that has some 'loopholes'.
With due respect to those bankrupt who really failed in their business or other sad circumstances, there are many unscrupolous fraudulent freaks who exploited these situations, and goes round conning innocent people's blood and sweat money.
After many cases, if should one victim takes up legal proceedings and they are made bankrupt, fine, they just use other peoples name, register new companies and continue cheating people money. Managing and mastermind such conning operations even though he may be a bankrupt, still driving new continental cars, staying in condominium, no stress, relaxing life.
We should join such brilliant people who knows the law and enjoy such previlege.
Actually, these are not loopholes due to the inattention of the law makers, but the opportunies seen by an enterprising mind of a criminal.
If any persons should form a Company and be its Directors, and decide to allow a Bankrupt to have full control and operate the Company, those persons who are Registered Directors of the Company are liable to the acts and indebtness incurred by the Bankrupt.
You are entitled to sue for compensation to be paid by those persons listed as Directors of the Company operated by the Bankrupt, and hold them responsible to settle the debt incurred and owing to you. -
Thank you Atobe, for your kind advise and reply.
I will just have to wait for a reply from the OA office.
Really don't know when the law makers can mend these loopholes. Especially, the economic situations for the past 6~7 years have been very weak, with no visibility of any realistic truthful recovery,
There are abundance of brilliant people out there, and if knowing of such loopholes will prey on innocent people who just try to venture into some new business to earn a decent living to support their family or dependents.
If the law does not response promptly and punish such evil doers, more will be encouraged to follow the file.
Actually, just wondering whether ' The Insolvency & Public Trustee's Office ", CAD or CBT department do allocate resources and review the total situations of A BANKRUPT, how and why they are made so, are the situations truly business or genuine failure or just deceipt and apparently sued by some party.
The number of bankruptcy cases in singapore are ever increasing. I think a task force should be formed and to investigate into selective bankrutcy cases and try to uncover bankruptcy involving cheating or some sort. In this way, will also discouraged such activity. This task force can be made up of volunteers, trained by qualified departments and empowered to conduct investigation into such cases.
I came into contact with debt collection companies, and during this period came to know of many cases which they have handled which are actually debts incurred by debtors through some form of " conning " and such creditors resorted to debts collection services because they are not getting anyway using the legal channels.
They paid huge sum of $$ but at the end of the day just got judgement and have to spend more $$ to follow up but result is still disappointing.
There are so many such victims and only if the police will to take some responsibility and charged culprits, than, these will definitely greatly discouraged such scheming " conning " plans by would be cheating case.
I'm inclined to believe many culprits have evaded prosecutions, hence, they are motivated to continue and expand such activity becasue they got away easily from the law for what seems to be criminal but actually they are free to continue.
Above are just my opinions and without any implications against any departments or people.