Azalina: Amendments to Insolvency Act to improve bankruptcy administration system

2 months ago

Azalina: Amendments to Insolvency Act to improve bankruptcy administration system

PUTRAJAYA: The Insolvency Department is in the midst of drafting several amendments to the Insolvency Act 1967 (Act 360) to improve the bankruptcy administration system, including the adoption of amendments in previous bankruptcy cases.

Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said said among the proposed amendments was the setting of time limits for the filing of proof of debt forms by creditors (Section 42 and Schedule C of Act 360) to avoid the issue of late filings, which could make it difficult to discharge bankrupt individuals.

Read the full story

It's better on the Lumi News app

✅ It’s fast

✅ It’s easy to use

✅ It’s free

Start using Lumi
You might like ⬇️
DatumCorp, Temu Jelatek distribute 2,000 packs of bubur lambuk
Selangor Journal

Selangor Journal

DatumCorp, Temu Jelatek distribute 2,000 packs of bubur lambuk

Two dams main criteria to solve Kota Kinabalu water woes: Shahelmey
The Vibes

The Vibes

Two dams main criteria to solve Kota Kinabalu water woes: Shahelmey

Unity govt to prioritise building stronger ties with China — PM Anwar
Selangor Journal

Selangor Journal

Unity govt to prioritise building stronger ties with China — PM Anwar

12 minutes ago

news-stack-on-news-image

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.

Trending right now

Loading...