More bankrupts break rules
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May 5, 2010 - The Straits Times
More bankrupts break rules
Figure hits 3-year high due to link-up between agencies, but number of new bankrupts falls
By K. C. Vijayan, Law Correspondent
NEARLY every other day last year, one bankrupt was caught for sneaking out of the country or committing other offences under the Bankruptcy Act.
That figure was a three-year high, even as the number of new bankrupts dropped for the same period, and came as a result of two public agencies sharing information.
The Insolvency and Public Trustee's Office (Ipto) linked up with the Immigration and Checkpoints Authority (ICA) last year to track travel by bankrupts, who are not allowed to leave the country without permission.
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Why are they leaving?
