Employment Law

Debt Collectors in Singapore

Bankruptcy, Debt Recovery, Defamation, Dispute Resolution, Employment Law / /

It is no wonder that personal debt is on the rise, with Singapore once again being crowned the most expensive city in the world for seven years straight. The mean average debt of a Singaporean household is about S$55,000 as banks see more people taking out loans to fund hefty purchases like cars, houses or university education. However, a problematic debt arises when consumers struggle to make repayments. If you find yourself in a situation with a debtor who keeps making delayed payments or is unable to make repayments, the lawyers at Lions Chambers LLC can assist you in exploring available options.

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Can you sue a company director for a company’s debts?

Bankruptcy, Corporate Law, Debt Recovery, Defamation, Dispute Resolution, Employment Law / /

The whole purpose of incorporating a company is to create a new legal entity – if the company owes money or found liable for something, only the company’s assets may be tapped into to repay the debt or pay damages, not the directors’ assets.

However, as shown below, some circumstances exist where you can make a company director personally liable for a company’s debts:

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