Dr Goh Seng Heng's lawyers said he had made those omissions when he had no lawyer to advise him and had simply forgotten about some of the sums.

This case is a stark reminder that full and honest disclosure is a legal obligation for every bankrupt — not a formality. Omissions, even unintentional ones, carry serious financial and legal consequences.

What This Means for Bankrupts

Under Singapore's Insolvency, Restructuring and Dissolution Act (IRDA), a bankrupt is required to fully disclose all assets and income to the Official Assignee (OA) or Private Trustee in Bankruptcy (PTIB). This includes properties, bank accounts, investments, CPF balances, and any assets held by third parties on the bankrupt's behalf.

Failing to do so — whether deliberately or through negligence — is a criminal offence that can result in substantial fines or even imprisonment.

Key Obligations Every Bankrupt Must Know

  • Disclose all assets, income, and liabilities at the time of bankruptcy and as they change
  • Report any assets acquired after the bankruptcy order (including inheritances and gifts)
  • Notify the OA or PTIB of changes in employment or income
  • Obtain permission before travelling overseas
  • Seek approval before taking on new credit of S$500 or more

How WeCare Can Help

Navigating compliance requirements as a bankrupt can be complex. At WeCare Consultancy, we work with you to ensure every disclosure is accurate and timely, reducing your risk of penalties and helping you achieve discharge as smoothly as possible.

If you are unsure about your obligations — or if you think something may have been missed — reach out to us for a confidential consultation.