SINGAPORE : Former opposition figure J B Jeyaretnam on Monday
got what is known as a "conditional discharge from bankruptcy" from
the Court of Appeal.
This means he will be in the clear, as long as he pays up the full
amount owed to creditors within three weeks.
The amount he owes is S$233,255.
Mr Jeyaretnam had been declared bankrupt in 2001.
He was not able to pay creditors after being hit by a series of
defamation lawsuits in 1996 and 1997, including one by Senior
Minister Goh Chok Tong.
Mr Jeyaretnam subsequently lost his seat as a Non-Constituency MP
in Parliament.
He was back in the Court of Appeal to try and close that final
chapter and be discharged from bankruptcy.
The court learnt that creditors had agreed to accept 45 percent of
what was owed, but just how much money exactly that 45 percent
translated into was disputed.
Lawyers for the creditors said it was just under a quarter million
dollars but Mr Jeyaretnam argued he should pay about half that
amount.
But the Court of Appeal asked both sides to come to an agreement on
the amount that should be paid.
After the judgement, lawyers for the creditors said this was the
offer they had made all along since last year but Mr Jeyaretnam had
disputed the figures.
If it hadn't been for that, the matter could have been settled and
Mr Jeyaretnam could have been discharged by now.
As for Mr Jeyaretnam, he said he was thankful for small mercies
although the final figure was higher than he had expected.