Quantification of claim
180. A creditor proving his debt shall deduct from his claim all trade and other discounts which would have been available to the bankrupt but for his bankruptcy, except any discount for immediate, early or cash settlement.
—(1) For the purpose of proving a debt incurred or payable in a currency other than Singapore dollars, the amount of the debt shall be converted into Singapore dollars at the rate prevailing on the date of the bankruptcy order as derived under paragraph (2) or (3).
(2) The rate shall be the average of the buying and selling rates as published in a local newspaper on the date in question.
(3) In the absence of any published rate referred to paragraph (2), it shall be such rate as may be determined by the Official Assignee or the trustee, as the case may be.
182. When any rent or other payment falls due at stated periods, and the bankruptcy order is made at any time other than one of those periods, the person entitled to the rent or payment may prove for a proportionate part thereof up to the date of the order, as if the rent or payment grew due from day to day.
183. If a bankrupt was at the date of the bankruptcy order liable in respect of distinct contracts as a member of 2 or more distinct firms or as a sole contractor and also as member of a firm, the circumstance that —
the firms are in whole or in part composed of the same individuals; or
the sole contractor is also one of the joint contractors,
shall not prevent proof in respect of the contracts against the properties respectively liable on the contracts.
184. In the following circumstances, the creditor’s claim may include interest at a rate not exceeding 8% per annum on the debt for periods before the bankruptcy order, although not previously reserved or agreed:
if the debt is due by virtue of a written instrument and payable at a certain time, interest may be claimed for the period from that time to the date of the bankruptcy order; or
if the debt is due otherwise, interest may only be claimed if, before the presentation of the bankruptcy petition, a demand for payment was made in writing by or on behalf of the creditor, and notice given that interest would be payable from the date of the demand to the date of payment, in which case interest may be claimed under this rule for the period from the date of the demand to that of the bankruptcy order.
186. A creditor may prove for a debt not payable at the date of commencement of the bankruptcy as if it were payable presently, and may receive dividends equally with the other creditors, deducting only thereout a rebate of interest at the rate of 8% per annum from the date of declaration of a dividend to the date when the debt would have become payable according to the terms on which it was contracted.