Versi Bahasa 中文版 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 UpRead More…
中文版 Very often we get this question: I am a bankrupt and I am servicing an existing car/ housing loan, the bank did not repossess the car/ foreclose on the house, shall I continue to service the car/ housing loan? If a person is made bankrupt in the year 2016 and the car/ housing loan has been running since 2015 for 5 years, the catch is that once you have finished servicing thRead More…
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How bankruptcy is terminated
Some innocent folks, trusted the wrong people and were unwittingly made bankrupt. Some folks’ businesses went south and were made bankrupt. These are the paths Read More…
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…
Compulsory Winding-up
“Versi Bahasa Malaysia”
中文版 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 Read More…