Tan asked 9 years ago
Dear sir, My father have declared bankruptcy in result from the court had dismissed his counterclaim from business partner(plaintiff). In the meantime, he have property in high value with little outstanding balance to bank, so recently he would like to discharge bankruptcy. he plan to sell it to plaintiff but his lawyer had proposed to them earlier but somehow rejected by them. In this case, can you advise should his lawyer try to re-negotiate with them again or directly go to Insolvency dept to take this property to settle all debts? But i afraid Insolvency dept will auction off with low price so my father couldnt cover the debt then in the end he still couldnt discharge. can you advise? Thanks a lot. appreciate for your helping.
KCLau