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Singapore Makes Your Money More Valuable

The trader who is in debt may have transferred or sold a significant part of his commercial enterprise, all or a significant part of his commercial goods in his workplace. In this case, it is assumed that the debtor/merchant acted with the intention of harming his creditors. However, this presumption can be rebutted. In what cases can a lawsuit for cancellation of savings be filed? A lawsuit for cancellation of savings is filed in cases where the debtor, against whom enforcement proceedings are being pursued, has a savings that is subject to cancellation even though it was actually made validly.

These savings are donations and suspicious savings made

By the debtor to evade property from his creditors before South Africa Telegram Number Data the seizure or bankruptcy of his assets. If the conditions for cancellation of the savings are met. It will be possible to file a lawsuit for the cancellation of the relevant savings. What are the savings? Forgivenesses and unrequited savings made by the debtor in the last two years. Customary gifts are not subject to cancellation for reasons such as New Year’s, birthdays and marriages. For this reason, these gifts should not exceed the usual amount. Savings made by the debtor in the last two years that are considered as forgiveness.

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Savings made by the debtor while insolvent in the last year

Dispositions made by the debtor with the Iran Phone Number List intention of harming his creditors. For example, the debtor transfers a movable or immovable property or receivable to a third party or rejects the inheritance in order not to pay . His debt. What Happens as a Result of the Cancellation of Savings Case? With the action for annulment of disposition, the . Wwnership of the goods is not taken from the defendant and given to the debtor, only the creditor gains the authority to obtain his receivables from the price of the goods. With the decision to accept the annulment. Vlawsuit, the property subject to the lawsuit does not return to the debtor’s ownership.

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