A Personal Finance Blog for Malaysian: New Bankruptcy Act effective Oct 2017

Saturday, October 7, 2017

New Bankruptcy Act effective Oct 2017

Effective 06.10.2017

The New (Amendments) Bankruptcy Act

Now become "Insolvency Act 1967"

#Threshold from RM30k increased to RM50k.

#Guarantor, social guarantor will NO longer become "bankrupt".

#Discharge become automatic, if conditions are met.

https://themalaysianlawyer.com/2016/11/22/the-new-bankruptcy-bill-malaysia/