Our Associate Director, Tris Xavier, will be speaking at a webinar organized by the Insolvency Practitioners Association of Singapore (IPAS). This event is ideal for insolvency practitioners.
House of Cards: Property Issues in Personal Bankruptcy
Date: 25 June 2024
Time: 2pm to 4.30pm
What happens after you are declared a bankrupt?
In land scarce Singapore, one of the most important properties held by individuals and families is, well, real property. From HDB flats to condominiums to landed houses, such property represents a large portion of an individual’s wealth, and for most their home and residence.
However, when a person becomes bankrupt, all property – including real property – are vested in the Official Assignee or Private Trustee in Bankruptcy. While the legal position is clear, this often presents practical issues for the debtor and the trustee in bankruptcy for matters relating to realisation and handling of property.
In this seminar, we will explore the general legal position of properties owned by bankrupt persons, as well as discussing and proposing some practical solutions for difficulties faced when dealing with properties owned or co-owned by bankrupts. These include:
1. Properties Co-owned by a Bankrupt and a Solvent Co-owner;
2. Property Division upon a Divorce Involving a Bankrupt Party;
3. Insights from the decision of [2024] SGHC 52, relating to the disposition of property before a bankruptcy order is made.
Join Tris Xavier to gain valuable insights and practical solutions for managing these challenges effectively.
About the Speaker
Before joining Yuen Law, Tris Xavier was in civil service for 9 years under the Insolvency and Public Trustee’s Office (IPTO) and the Ministry of Law. He played a critical role in overseeing the 2015 reforms of the then Bankruptcy Act, and the passing of the current omnibus Insolvency, Restructuring and Dissolution Act 2018. He is well-versed in policy, and equipped with years of valuable experience as the Official Assignee, Official Receiver and Public Trustee across various case files, where he has provided expert legal counsel for individual insolvencies, corporate windings-up and trust cases. Tris has acted for debtors and creditors alike, and is also a licensed insolvency practitioner.
