Govt to amend law, easing bankruptcy discharge process: Azalina

KUALA LUMPUR – The Insolvency Act 1967 will be amended, including to release bankrupt persons within a shorter period, said law minister Datuk Seri Azalina Othman Said.

The amendments will also take into account current economic pressures and the new minimum wage, with the threshold for small bankruptcies to be streamlined accordingly.

“The government is cognizant of the challenges bankrupt individuals face and the stigma from society. The administration of bankruptcies will be further improved,” Azalina said in a statement today