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DECLARATION FORM 1. I/We, (1) NRIC No. and (2) NRIC No. and (3) NRIC No. and (4) NRIC No. am/are the Sellers /prospective Buyers of a HDB apartment at . 2. I/We hereby declare that we are NOT undischarged.

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I (name of applicant) (NRIC No. _____________) of (personal address ing to NRIC for foreign director fill in as SSM Corporate Information) solemnly and sincerely declare the following: That I am director of (Company name) in (Company address) .

What is insolvency? There are two sorts of insolvency. Balance sheet insolvency is where the company's liabilities exceed its assets. Cash flow insolvency is where a company cannot pay its debts as they fall due.

Unlike other laws (e.g., foreclosure laws), an insolvency law is designed to address a situation in which a debtor is no longer able to pay its debts to its creditors generally (rather than individually) and, in that context, provides a mechanism that will provide for the equitable treatment of all creditors.

Insolvency is a state of financial distress in which a person or business is unable to pay their debts. Insolvency is when liabilities are greater than the value of the company, or when a debtor cannot pay the debts they owe. A company can become insolvent due to a number of situations that lead to poor cash flow.

You can't recover fully from bankruptcy unless you have a solid financial plan. Start planning early (you can start planning before you've even been discharged), and set out which financial goals you want to reach and when – being realistic, of course. To plan effectively, you'll need to start budgeting effectively.

This means the company is closed down and its assets are sold and distributed to its creditors.

“We being all / majority of the directors of the company do solemnly and sincerely declare that we have made a full enquiry into the affairs of this company, and that, having done so, we have formed the opinion that this company will be able to pay its debts in full together with interest at the official rate within a ...

Under the Insolvency Act 1986 [the Act] it is a criminal offence for a company director to make a statutory declaration of a company's solvency without reasonable grounds. Where one or more of the directors is based overseas, the Declaration usually takes place before a Notary Public.

Generally speaking, insolvency refers to situations where a debtor cannot pay the debts they owe. For instance, a troubled company may become insolvent when it is unable to repay its creditors money owed on time, often leading to a bankruptcy filing.

The company needs to formally file for insolvency, typically through a court application. This is usually done by an insolvency practitioner on behalf of the company. Once the court approves the bankruptcy, the company's assets will be sold off to repay outstanding debts.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232