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Bankruptcy-WBankruptcy Discharge

马来西亚破产报穷法令简介-中文版

Discharge after full settlement with Creditors Assisted by Lawyers

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SOCIAL GUARANTOR AND AUTOMATIC DISCHARGE

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Discharge & Annulment with Assitance of Lawyers

The article below sets out some general information in relation to Bankruptcy in Malaysia, including the Act of Bankruptcy, Disqualification  and Discharge from Bankruptcy.

 

 

Bankruptcy in Malaysia General Information

1     In Malaysia  the law  provides that the minimum sum of  debt owing by a debtor is  RM30,000 before a creditor may commence  bankruptcy  proceedings against the debtor.   The  creditor  normally takes a course of legal action  and obtains a judgment upon the debt.

2     One of the possible  modes  of execution of judgment is a Writ of Seizure and Sale or the creditor  may   issue a bankruptcy notice  and serve the same on the debtor.     Upon the failure of the debtor to settle the debt in compliance with the said notice,  the  debtor   commits   an act of bankruptcy,     the creditor may  commence  a bankruptcy action against the debtor.

 

Bankruptcy

Bankruptcy

The Act of Bankruptcy

Ways in which an act of bankruptcy is committed
3     The act of  bankruptcy is required prior to the commencement of  any bankruptcy proceedings.  The debtor may  commit an act of bankruptcy in a number of  situations.   The categories of acts of bankruptcy  set out in section 3(1) of the Bankruptcy Act are as follows:

3(1)      A debtor commits an Act of bankruptcy in each of the following cases:

(a)     if in Malaysia or elsewhere he makes a conveyance or assignment of his property to a trustee or trustees for the benefit of his creditors generally;

(b)     if in Malaysia or elsewhere he makes a fraudulent conveyance, gift, delivery or transfer of his property or of any part thereof;

(c)    if in Malaysia or elsewhere he makes any conveyance or transfer of his property or of any part thereof, or creates any charge thereon which would under this or any other written law for the time being in force be void as a fraudulent preference if he were adjudged bankrupt;

(d)     if with intent to defeat or delay his creditors he does any of the following things;

(i)     departs out of Malaysia or being out of Malaysia remains out of Malaysia, or

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(ii)     departs from his dwelling-house or otherwise absents himself, or begins to keep house or closes his place of business, or

(iii)     submits collusively or fraudulently to an adverse judgment or order for the payment of money;

(e)     if execution issued against him has been levied by seizure of his property under process in an action or in any civil proceeding in the High Court, Sessions Court or Magistrates Court where the judgment, including costs, is for an amount of one thousand ringgit or more;

(f)     if he files in the court a declaration of his inability to pay his debts or presents a bankruptcy petition against himself;

(g)      if he gives notice to any of his creditors that he has suspended or that he is about to suspend payment of his debts;

(h)      if he makes to any two or more of his creditors, not being partners, an offer of composition with his creditors or a proposal for a scheme of arrangement of his affairs, and such offer or proposal is not followed by the registration within fourteen days thereafter of a deed of arrangement with his creditors, in accordance with the rules for the time being in force for the registration of deeds of arrangement under this Act;

(i)     if a creditor has obtained a final judgment or final order against him for any amount and execution thereon not having been stayed has served on him in Malaysia, or by leave of the court elsewhere, a bankruptcy notice under this Act requiring him to pay the judgment debt or sum ordered to be paid in accordance with the terms of the judgment or order with interest quantified up to the date of issue of the bankruptcy notice, or to secure or compound for it to the satisfaction of the creditor or the court; and he does not within seven days after service of the notice in case the service is effected in Malaysia, and in case the service is effected elsewhere then within the time limited in that behalf by the order giving leave to effect the service, either comply with the requirements of the notice or satisfy the court that he has a counter-claim, set off or cross demand which equals or exceeds the amount of the judgment debt or sum ordered to be paid and which he could not set up in the action in which the judgment was obtained or in the proceedings in which the order was obtained:

Provided that for the purposes of this paragraph and of section 5 any person who is for the time being entitled to enforce a final judgment or final order shall be deemed to be a creditor who has obtained a final judgment or final order;

(j)     if the officer charged with the execution of a writ of attachment or other process makes a return that the debtor was possessed of no property liable to seizure; and for the purposes of this paragraph the date when the writ is lodged with the officer shall be deemed to be the date of the act of bankruptcy.

Bankruptcy Petition

4     After the act of bankruptcy is committed, the creditor files a Bankruptcy Petition.

 

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Receiving and Adjudicating Orders
5     The Receiving and Adjudicating Orders, generally known as the AORO may be  granted after   hearing the Bankruptcy Petition if the creditor makes out sufficient ground against the debtor.

Disqualifications of Bankrupt

6     The Disqualifications of Bankrupt   are   set out in section 36  of the Bankruptcy Act  as follows:
36(1)     Where a debtor is adjudged bankrupt he shall subject to this Act, be disqualified for-

(a)     being appointed or acting as a Sessions Court Judge or Magistrate;

(b)     being nominated or elected to or holding or exercising the office of Councillor of a local authority.

36(2)     The disqualifications to which a bankrupt is subject under this section shall be removed and cease if and when-

(a)     the adjudication of bankruptcy against him is annulled; or

(b)     he obtains from the court his discharge with a certificate to the effect that his bankruptcy was caused by misfortune without any misconduct on his part.

36(3)     The court may grant or withhold such certificate as it thinks fit, but any refusal of such certificate shall be subject to appeal.

Consequences of refusal of discharge

7     The  Consequences of refusal of discharge of Bankrupt   are   set out in section 38  of the Bankruptcy Act  as follows:
38(1)     Where a bankrupt has not obtained his discharge-

(a)     the bankrupt shall be incompetent to maintain any action (other than an action for damages in respect of an injury to his person) without the previous sanction of the Director General of Insolvency;

(b)     the bankrupt shall once in every six months render to the Director General of Insolvency an account of all moneys and property which have come to his hands for his own use during the preceding six months, and shall pay and make over to the Director General of Insolvency so much of the same moneys and property as have not been expended in the necessary expenses of maintenance of himself and his family;

(ba)     notwithstanding paragraph (b), the bankrupt shall immediately report to the Director General of Insolvency the receipt of any moneys, property or proceeds in any form from property the value of which exceeds five hundred ringgit and which moneys, property or proceeds do not form part of his usual income and the bankrupt shall, as soon as may be required by the Director General of Insolvency, pay or make over such moneys, property or proceeds to the Director General of Insolvency;

(bb)      the bankrupt shall immediately inform the Director General of Insolvency if there is any change of his home address;

(c)     the bankrupt shall not leave Malaysia without the previous permission of the Director General of Insolvency or of the court;

(d)    the bankrupt shall not, except with the previous permission of the Director General of Insolvency or of the court, enter into or carry on any business either alone or in partnership, or become a director of any company or otherwise directly or indirectly take part in the management of any company;

(e)     the bankrupt shall not, except with the previous permission of the Director General of Insolvency or of the court, engage in the management or control of any business carried on by or on behalf of, or be in the employment of, any of the following persons, namely-

(i)     his spouse;

(ii)     a lineal ancestor or a lineal descendant of his or a spouse of such ancestor or descendant; or

(iii)     a sibling of his or a spouse of such sibling.

(1A)     In granting permission under paragraph (1)(c), (d) or (e), the Director General of Insolvency or the court may impose such conditions as he or it may think fit.

(2)     A bankrupt who makes default in performing or observing this section or a condition imposed pursuant to subsection (1A) shall be deemed guilty of a contempt of court, and shall be punished accordingly on the application of the Director General of Insolvency.

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Disqualification as Director and Bank Signatory

Generally a bankrupt may not be a company director and bank signatory, it will be embarrassing if the bankers should write a letter to inform the respective companies that cheques issued by a particular person  is no longer valid.

 

Discharge as a Bankrupt With Assistance of Lawyer

If you would like to find out about getting a  Discharge as a Bankrupt please click on the article below to  fill up a form.

Social Guarantor Discharge Annul Bankrupt Automatic Malaysia Query

 

77 Responses to 7 Tips on Bankruptcy in Malaysia Discharge Disqualification Annulment Lawyers

  • My mother n dad is declared bankrupt since almost 7 years ago, what is the procedure to go through to discharge from bankruptcy? Her situation happened due to failed business.

    Besides, we would like to go travel together coz my sis marrying someone from other country, what procedure should we go.

    Thank you!

  • Dear Mr Chang
    My colleague purchase property in Malaysia and the bank offered loan for truly overvalued property. In fact its hard to see why they gave a loan to a property not worth the value, even at time of purchase. Now the property worth much less than the loan and debtor unable to sell and unable to make loan payments. Bank said will auction and Im sure bankrupy my colleague. Although my colleague does not live in Malaysia, a foreigner, and does not have any other assets in Malaysia. What will be the consequences for my colleague. I expect bankrupt but willt this only apply to his Malysian assets. Appreciate any assistance as to what the outcome to overseas assets / passport / future entry to Malaysia etc. Thanks and great work on your behalf answering all the queries.

  • Hello, i was declared a bankrupt more than 10 years ago. The reason: car loan.
    I met with Insolvency office for interview and promise monthly payment to Insolvency. After promise, i lost my job and i don’t afford to settle due than i stop making payment to Insolvency. Now i got my job. My Job need Passport to transit Brunei when need. I don’t afford to purchase air ticket during my duty to another place. This is not a good reasons to my company said i do not have passport. i wish to continue make payment to Insolvency, so that i apply to transit Brunei. But the officer told me that i must settle pass few year debt at Insolvency at first, than i can process to make my passport. That is alot of money which i don’t think that i can make it. Please give me advise what should i do?

  • Hi Alex, need some advise from u. I was decorated a bankrupt more than 10 years ago. Since then I have been paying regularly to Insolvency.
    Recently My husband who is the cause of my situation has passed away leaving his house to me n his son.
    We sold the property everything was done by the lawyer but for the last part of the sales That is final payment by buyer from their bank discovered that I m a bankrupt, n will not pay till I m discharged. I have applied to Insolvency for a discharged already 2 plus months but still No reply. What should I do to expedite the matter?

    I m willing to pay to get the discharged.
    Thanks

    • Dear Ms KWEK

      Thank you for your mail.
      LAWYERS AND the Director General of Insolvency

      We will be able to assist you to handle the matter. From our experience, if you deal with the DGI without a solicitors it tends to take slightly longer as the Director General of Insolvency have to spend more time to assist you with your queries and so forth.

      On the other hand, if we should assist you, we will be able to direct you on a slightly faster path.

      Bankruptcy Discharge of Full Settlement Creditor
      If you wish to obtain a Discharge from Bankruptcy after Payment in Full to the Judgment Creditors.

      You need to
      1 Obtain a letter of full and final settlement from the Judgment Creditors who “made you bankrupt”. Please do NOT proceed to make payment unless you have performed all the steps;

      2 Negotiate for a lesser sum from the Judgment Creditors if you wish;

      3 Get a list of all creditors who have filed a Proof of Debt (POD) against you with the Director General of Insolvency. The creditor who “made you bankrupt” may not be the only creditor;

      4 Fill in, affirm (sign) it before a Commission for Oaths and file a Statement of Affairs (SOA) with the Official Assignee, the Director General of Insolvency;

      5 Get a letter (hereinafter the “Letter”) from the Director General of Insolvency on the exact sum to be paid to the Director General of Insolvency for them to consent to your application to discharge;

      6 Make the full payment to the Director General of Insolvency as per the sum in the Letter;

      7 Make an application in court for the discharge.

      The information above can also be found at:

      http://alexchanglaw.com/index.php/bankruptcy-discharge-full-settlement-creditor/

      A FORM TO BE FILLED UP- Please spend a few minutes:
      http://alexchanglaw.com/index.php/bankruptcy-discharge-full-settlement-creditor/

      Please carbon copy future electronic mails to my secretary Miss Chow and the litigation department.

      IF YOU PREFER A PHONE CALL
      Cell/ Whatsapp/ Viber +60122273289

      Thanks again.
      Best Regards

      Alex Chang
      Alex CHANG & Co
      Cell/ Whatsapp/ Viber +60122273289
      HK: +852-8170-3389
      http://www.AlexChangLaw.com
      http://alexchanglaw.com/index.php/disclaimer-terms-conditions-website-electronic-communications/

  • Hi Alex Chang
    my parents and my brother were declared a bankrupt in 2009 (father & brother); 2011 (mother). The reason: car loan and housing loan.
    May I know how to remove (discharge/ annul) them from the bankruptcy status. Thanks.

  • 1) can i renegotiate the monthly payment to Insolvency which is set to at least 10% of my income?
    2) why must i pay the whole amount of Hire Purchase loan when i am only a guarantor and only holding 10% share in a private limited company?
    3) what happen to to the sdn.bhd. company which has close shop with out winding up
    4) what is JD or POD… and why is it never appear in CCRIS or CTOS
    5) can the bank repossess the shoplot that I purchased (I am guarantor), before my bankcrupty case without my consent or signature approval.

    • Dear Sir
      1) can i renegotiate the monthly payment to Insolvency which is set to at least 10% of my income?
      A. You can always do that provided you have good grounds (reasons).

      2) why must i pay the whole amount of Hire Purchase loan when i am only a guarantor and only holding 10% share in a private limited company?
      A. Without looking at your documents, you probably are a guarantor for the FULL amount of the loan and that is why. It has nothing to do with the share holding that you have in the company.

      3) what happen to to the sdn. bhd. (Private limited) company which has closed shop without winding up
      A. Many things can happen, at some point, the authorities may catch up with the directors of the companies and do the needful.

      4) what is JD or POD… and why is it never appear in CCRIS or CTOS
      A. JD for the insolvency lawyers means Judgment Debtor, I cannot explain why…

      5) can the bank repossess the shoplot that I purchased (I am guarantor), before my bankcrupty case without my consent or signature approval.
      A. If you are the purchaser, you cannot be a guarantor, you will be the borrower usually.
      In any event usually the bank will not need your signature to sell the shop that you have charged to them.

      You may wish to read the legal procedures and substituted service here:
      http://alexchanglaw.com/index.php/court-procedures-receive-malaysian-writ-summons/

      Thank you.

      Alex Chang
      http://www.alexchanglaw.com

      Mobile: +6012-2273289
      HK: +852-8170-3389
      http://alexchanglaw.com/index.php/disclaimer-terms-conditions-website-electronic-communications/

  • hi… i was blacklisted in year 2005 i think, unpaid property loan. The bank had assigned debt collector to chase on me for the past few years. i went to check my CCRIS in year 2015, it stated that my property is under “LELONG” status in year 2008. My question is : Now 2017, why i not being sue for bankruptcy for so many years ? 2. Can i remove/discharge from being bankruptcy charges?

  • Hi,
    I just declared bankrupt on 25/3 without any notice. I want to settle all the debts instantly (paying in full) and will the discharged possible? Engaging a lawyer will an helpful? How much is the fee?

  • Dear Sir

    I am a widow since 2013 and had not apply for Letter of Administration for my husband’s estate. May I know is there a time frame for application of LA? In the event that my late husband had sued for outstanding debts, how would such cases affect the application of LA?

    Best regards
    Tan.

  • Hello,

    My mother is declared bankrupt since almost 20 years ago, what is the procedure to go through to discharge from bankruptcy? Her situation happened due to failed business and debt from the company.

    Besides, we would like to go travel together for the coming years, what procedure should we go through?

    Kindly seeking for your advice.

    Thank you!

  • Hi, i want to know where do people go and file for bankruptcy actually?

  • Awesome article.

  • Hi, im Vathi. I was declared bankrupt more than 10 year’s.

    I’m performing my debt repayment at the insolvency department regularly since 2011. I heard after five years as a bankrupt, a person can be discharged from being a bankrupt. Can I get a passport and open a bank account? Please kindly advise me. What I should do for open bank account and Passport Malaysia. I want go India for do some prayers with my family members. Pls help me. Tq.

  • Hi Sir, I have a hired purchase loan with one of the bank. The bank’s officer called me last week and informed me that they want to file a bankruptcy proceeding against me due to my bad debts above RM30,000.

    My car was repossessed in December 2015. I went to the bank a few times to negotiate the payment of the total outstanding sum but it was turned down and the bank demanded that I pay the full outstanding amount.

    When my car was repossessed, the value of the car was around RM20,000.00 to RM25,000.00 and the bank refused to accept my proposal. The bank mentioned that the car will be auctioned, and once the car has been sold, they will inform me of the balance amount I need to pay. But on the last occasion I spoke to the bank and the bank claimed that the my car has been disposed.

    The bank is demanding that I pay the amount of RM65,000.00 to clear my bad debt and to avoid a bankruptcy proceeding filed against me. I am told by the bank’s officer that I will personally go to the bank and get more details. But the bank’s officer said that there is no point for me to go the bank as they have decided to file a bankruptcy proceeding against me. The bank’s officer asked me to settle the sum of RM32,000.00 within 3 days to avoid a bankruptcy proceeding filed against me which will take effect by this month. Please assist me and how can I….

    • Dear sir,

      Before the bank can file a bankruptcy proceeding against you, the bank must first file a suit and enter judgment against you. You have to check if you were served with a writ of summons from the bank. If you have, then whether the bank has already entered judgment against you.

      Once a bankruptcy proceeding is filed against you, the bank will have to serve on you the bankruptcy notice and the creditors’ petition. Therefore you will have to keep a look out for these documents.

      With respect to the bank’s demand, please check with your bank the breakdown of your debt, that is how much has been paid and what is the outstanding sum. There is no reason why the bank should refuse to provide you the details of your outstanding debt. You should request from the bank a proper statement of accounts with respect to your debt.
      Thanks
      Best Regards

      Alex Chang
      Cell/ Whatsapp/ Viber +60122273289
      HK: +852-8170-3389
      http://www.AlexChangLaw.com
      http://alexchanglaw.com/index.php/disclaimer-terms-conditions-website-electronic-communications/

  • Dear Sir

    What is the chance for – Apply to the DGI to discharge as a bankrupt?

    Koay

  • I am adjudicated a bankrupt since 1995. Caused by failed business. Had declared my asset to Insolvency Office and paid required installment only for 2 years. Applied for discharged once, 10 years ago, rejected by a creditor. What should I do next.

  • I became a guarantor for a loan, and the creditor sued me. I took the matter to court but my lawyer lost the case. I strongly suspect that my lawyer was “bought over” by the plantiff. The borrower of the loan is still making a lot of money, is not bankrupt at all and is still running his business very successfully.

    This borrower has commited fraud on me in multiple ways. He was supposed to share the profit from a project with me (50-50), based on a signed agreement. Instead, he blocked me out of all income coming in from the project, and made the creditor shift the huge liability on my head.

    I will have to be made a bankrupt now since I do not have the money to pay back to the creditor. While I am a bankrupt, can I file a lawsuit to sue this borrower?

  • Dear Alex

    Can a creditor file an action again against the debtor after an order for annulment is obtained from the court?

  • Usually I do not learn from articles on the blogs, however I wish to say that this write-up is very “compelling” for me! Your writing skills amaze me. Thanks, very nice article.|

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  • my friend was declared a bankrupt more than 5 years ago for being a guarantor for a car. the bank auctioned her house.

    Can she get a discharge because it has been a long time already?
    What are the procedures and the charges/ legal fees involved?
    thanks.

  • Hi,
    my father, mother and sister are bankrupt and their bankruptcy reached 5 years soon (by the end of Dec 2015).

    My father (54 years old) was business man previously and he use my sister’s and mother’s (52 years old) name for other company and bank loan too.

    At the end all of them became bankruptcy. One of the reasons is that we were betrayed by a partner in the business; at the end my family had to bear all the loses as their names were registered in the company.

    Because of this, we have tried many lawyers in the hope to get my sister discharge from bankruptcy as she is still young at only 27 yeas old.

    She is working in travel field and it block her from travelling around and facing alot of restriction. She been sued by 2 company with amount RM50K++ & RM800K++, one of the debtor did hire lawyer and they insist don’t wan to settle. We also do not have so much money to clear the debt. I have search around and heard that after 5 years, they may have the chance to apply for discharge from bankruptcy. May i know is there any way to get my family discharge from bankruptcy? or is there anyway to get discount from them? Do really hope you may help. Thanks. Please do contact me if you may help on this case.Hi,
    my father, mother and sister are bankrupt and their bankruptcy reached 5 years soon (by the end of Dec 2015).

    My father (54 years old) was business man previously and he use my sister’s and mother’s (52 years old) name for other company and bank loan too.

    At the end all of them became bankruptcy. One of the reasons is that we were betrayed by a partner in the business; at the end my family had to bear all the loses as their names were registered in the company.

    Because of this, we have tried many lawyers in the hope to get my sister discharge from bankruptcy as she is still young at only 27 yeas old. She is working in the travel industries and the bankruptcy blocked her from travelling and imposed many restrictions.

    She has 2 creditors amounting to RM50,000; RM800,000, one of the creditors did hire a lawyer and they are persistent that they don’t want to reach a settlement with our family. We do not have sufficient to clear the debts.

    I heard, after 5 years, they may have the opportunity to apply for a discharge from bankruptcy. May I know to apply for a discharge from bankruptcy?

    Is there anyway to get a discount from the Creditors?

    Do really hope you may help. Thanks. Please do contact me if you may help on this case.

    • Yes we are able to assist you in the application for a discharge provided certain criteria are met, it is also possible to appeal to the creditors for a discount.

      Please contact us for more details.

  • Dear Alex

    This enquiry is made on behalf of a close friend.

    Recently S transferred (sold) all his company shares to his business partner A, and used the money to settle his personal loan.

    He is now totally broke and struggles to pay his monthly repayments to banks for outstanding credit cards debts.

    He plans to file for bankruptcy but Partner A is worried and wish to know whether the BANKS can file to DGI to recover those company shares recently transferred to A.

    Truly appreciate your advice.

    Rgds
    LP

  • Greetings!
    I’ve been following your website for a
    while now and finally got the courage to go ahead and give you a shout…

    Just wanted to mention keep up the fantastic work!

  • Dear Alex,
    May I ask for your advice, as I understand, once a person been declared a bankrupt, all the asset he own must submitted (vested) to the DGI.

    How about the medical insurance and the unit trust fund that he bought using EPF money, does it affected too? Thank you

  • Can an undischarged bankruptcy become company’s signatory?

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  • dear sir,

    may i know whether the creditor could recover the legal fees and costs from the adjudge bankrupt debtor? is there any chance for the creditor to claim it?

  • Hi Alex.

    YouI just became aware of a credit card debt that is long overdue, of which my principle amount was less than a thousand but had racked up a total of RM 50,000 in interest.

    I had overlooked this as at that point I was relocating and had informed the bank via post mail to close my credit account (with enclosed cheque paying off the debt then). I unfortunately had not kept copies of the mail nor had followed up, being careless and young then.

    To date the bank still sends letters to my old address stating the amount owing that is only growing by the months. My case has also apparently be handed over to the collectors. However I have no records by insolvensi of bankruptcy, nor does my credit report by RAM/CCRIS record any indebtedness.

    I haven’t applied for loans since then or credit either. What could this mean and how could I negotiate for settlement if needed of my principle sum plus minimal penalties if unavoidable? Appreciate your help.

    Thank you.

  • Dear Sir

    I have a question. One particular “Securities Company” issued a bankruptcy notice against me. I have no knowledge how my National Registration Identity Card was submitted to the Securities Company and an account was opened with them.

    The mobile number and the signature in the application form does not belong to me. The first hearing of the bankruptcy proceeding was in the Taiping High Court, and the next hearing date is fixed next month. I proposed to the Securities Company to pay the alleged indebted sum by way of monthly installments. However they did not accept my proposal and insisted that I settle in full. I am not responsible for the sum indebted.

    But I do not know how to settle this matter. I am able to pay the indebted sum by way of monthly installments. I do not want to be declared a bankrupt. How do I deal with this matter? I need help. Will I be able to pay the indebted sum by way of monthly installments?

    • Dear Vijay

      Usually when the debts are disputed, we will usually advise the clients to challenge the summons and judgment, if any, instead of making a payment to the creditor. Whether by installments or otherwise.

      We have previously dealt with a matter of similar nature, and successfully dismissed the claim and the bankruptcy action against our client.

      In any event, if you would like to settle the matter and if you are able to settle the alleged indebted sum by way of a monthly installment, it is best you seek the assistance of a solicitor to act on your behalf to properly set out the terms of the settlement.

  • I have been adjudged a bankrupt for more than 3 years, and this have been a burden on me and my family. I have 5 children and my husband do not have a fixed income.

    Thus I am required to work hard for my children. I do not blame my husband for his situation. Whenever I attend a job interview, I’m always asked “Are you a bankrupt?”, “Can you travel abroad?”.

    I find these experiences devastating. Please help me. What should I do in a situation like this? All me and my family wish for is a happy life

    • We are sorry that you have been adjudged a bankrupt.

      This must be a difficult time for you and your family. We do no not know the reason of your bankruptcy, however if you intend to work, you may apply to the Official Receiver for a sanction (permission) to work.

      Similarly if you are required to travel abroad, you may also apply for leave from the Official Receiver to allow you to do so.

      Please feel free to contact us.

  • Unknowingly, I’ve entered into a contract with an undischarged bankrupt who purchased my property and has not paid the purchase price. What are my legal options?

    • The short answer is that a bankurpt purchaser is incapable of performing the contract without first obtaining sanction from the Director General of Insolvency.

      If you need further assistance feel free to contact us.

  • Good info!

    If there is a creditor’s petition filed against me but the hearing is not fixed yet, may I sell my condominium to my friend?

    • Dear Jude
      Thank you for your kind words. Without looking into all the details of your matter, the brief & general answer is that, that transfer will be void.

  • I am performing my payments to the insolvency department/ Official Assignee regularly. Can I travel? How do I get my passport?

    • Dear Sheela
      You need to make an application to the Official Assignee to allow you to travel. There are many criterion which you must satisfy. We will be happy to act for you to resolve this issue.

      Please Whatsapp/ sms us at +60122273289.

  • Dear Mr Ting

    we can help him to make an application to the Official Assignee to be discharged.

    We will need to see him and obtain a series of documents/ information, such the bankruptcy order, his re-payment pattern and the attitude of his creditors.

    thank you for your interest in our services.
    Feel free to get in touch with us via email.

    Web@alexchanglaw.com

  • Hi,
    my brother was declared a bankrupt more than 10 years ago. The reason: car loan and housing loan.

    May I know how to remove (discharge/ annul) him from the bankruptcy status. Thanks

  • I’m a person filing for bankruptcy. Now I am a salesman in another company, need to go abroad to meet customers and suppliers. I need legal advice. Feel free to contact me at 016-3xxx xxx.

    Thanks.

    • Dear Ms Lee
      we can help you to make an application to the Official Assignee to allow you to travel abroad to work.
      thank you for your interest in our services.

      Feel free to get in touch with us.

  • It is true that a bankrupt is not allowed to own property of any sorts, and cannot wear a pair of shoes. He is only allowed to wear slippers.

    • Dear Mr Sani
      Generally a bankrupt is not allowed to own property of any sorts.
      He can wear a pair of shoes.

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