JUDGMENT
Introduction
[1] This appeal concerns the law on annulment of bankruptcy under s 105(1) of the Bankruptcy Act 1967 ("the BA 1967").
Background Facts
[2] The appellant ("the Bank") obtained a summary judgment against the respondent ("the debtor") on 8 July 2004. Thereafter the Bank commenced bankruptcy proceedings against the debtor. The bankruptcy proceedings were resisted by the debtor wherein he filed:
(i) an application to set aside the Bankruptcy Notice on 29 November 2010; and
(ii) Notice of Intention to oppose the Creditor's Petition on 20 June 2012.
[3] The High Court dismissed his application to set aside the Bankruptcy Notice. The decision of the High Court was affirmed by the Court of Appeal. The debtor's attempt to oppose the Creditor's Petition also suffered the same fate. His Notice of Intention to Oppose the Creditor's Petition was dismissed by the High Court and was upheld by the Court of Appeal.
[4] Following the dismissal of the debtor's application to set aside the Bankruptcy Notice and to oppose the Creditor's Petition, a Receiving Order and an Adjudication Order ("the AORO") was recorded against him on 17 January 2013.
[5] On 16 December 2013, the debtor filed an application to annul the AORO ("the first annulment application") pursuant to s 105(1) of the Bankruptcy Act 1967 ("the BA 1967"). The first annulment application was made on the ground that the debtor ought not to have been adjudged a bankrupt as he was solvent and that he had the means to repay his debts.
[6] In support of his first annulment application, the debtor averred that:
(i) he had assets in Singapore in the form of a Singapore Court of Appeal judgment ("the Singapore judgment") dated 20 February 2013 which was granted in his favour;