Govt to amend law, easing bankruptcy discharge process: Azalina
2 months ago
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
Read the full story
It's better on the Lumi News app
✅ It’s fast
✅ It’s easy to use
✅ It’s free
Why read with Lumi?
Staying informed is hard work. Use the Lumi News app to get the latest news from publishers you like, in a beautiful app. Save time and find delight in news-reading again.