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evidences as submitted. Then, the official receiver
shall submit the application for debt repayment
along with his/her opinion to the consideration of

the Court. After being notified of the Court order,
if the creditor wishes to object to such order may
appeal it to the Supreme Court within 1 month from

the date of knowing or deemed knowing the order.
If the court order is in favor of the creditor and the
case is final, the official receiver will allocate
the debtors’ property to repay the creditors
proportionately to the Court order. The secured

creditor who applies for performance for repayment
is an exception as he/she will first be repaid from
the sale of the collateral and is entitled to any

deficiency as an unsecured creditor.
The recent amendment of Bankruptcy Act is
applied for the cases which are filed with the
Central Bankruptcy Court on 27 August 2015 or
th
thereafter. One of the significant amendments is

that where any claim for repayment of the debt is
not disputed, the authorized official receiver may
order the approval of repayment of the debt unless

there is any reasonable ground to order otherwise.
If the claim for repayment of the debt is disputed,
the official receiver shall conduct an interrogation.

32 Responses to Inquiries relating to Legal Execution in Bankruptcy Cases
Responses to Inquiries relating
to Legal Execution in Bankruptcy Cases

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