Affidavit Verifying the Companies Winding Up Petition

The Petitioner must file an affidavit verifying all the facts in the petition, if the petitioner is a company by an officer of the company otherwise it should be affirmed/ signed  by the petitioner himself, if it an individual. This Affidavit Verifying the Companies Winding Up Petition, must be filed within 4 days of the filing of the Companies Winding Up Petition. If the deponentRead More…

Bankruptcy and Your Existing Car Loan

Very often we get this question:  I am a bankrupt and I am servicing an existing car loan, the bank did not repossess the car,   shall I continue to service the car loan? If a person is made bankrupt in the year 2016 and the car loan has been running since 2015 for 5 years, the catch is that once you have finished servicing the car loan in year 2020, you will not be able to “enjRead More…

7 Tips on Bankruptcy in Malaysia

Discharge, Disqualification, Annulment.
Bankruptcy Discharge
中文版Versi Bahasa Malaysia
Discharge after full settlement with Creditors Assisted by Lawyers
For information on the above click here.
For information on the above click here.
Discharge & Annulment with Assistance of Lawyers
The article below sets out some general informationRead More…

Alex Chang Companies Widing Up Handbook

Winding Up Without a Judgment Petition Malaysia

Must I obtain a Judgment BEFORE filing a winding up petition against my debtors? “Versi Bahasa Malaysia” This is one of the most frequently asked questions.   A short answer is no.  The provision of section 218 of the Companies Act 1965 and the new sections 466 and 467 of the Companies Act 2016 did not provide that a judgment must be obtained prior to filing of a Winding Up Petition. Read More…

Alex Chang Companies Widing Up Handbook

What is compulsory winding-up insolvency liquidation?

Compulsory Winding-up
“Versi Bahasa Malaysia”
Compulsory winding-up insolvency liquidation in Malaysia is pursuant to section 218 of the  Act. It is a legal process by which the Official Receiver, now known as the Director General of Insolvency or a liquidator is appointed by an order of the court to ‘wind up’ the affairs of a limited company, Sdn Bhd or a Berhad. At the end of the processRead More…