Personal Insolvency Law in Malaysia

This book is written based on the Insolvency Act 1967 (Act 360) as amended by the Bankruptcy (Amendment) Act 2017 (Act A1534). It is intended to be a guide to lawyers, students, judicial officers, officers of the Department of Insolvency and other persons concerned with insolvency proceedings.

This book provides a comprehensive introduction to personal insolvency law and explains the eight acts of bankruptcy as laid down in the Insolvency Act 1967. It details the voluntary arrangements available in bankruptcy and provides discussions on bankruptcy notice and petition procedures. It elaborates on the bankruptcy order as well as the disqualifications and disabilities of a bankrupt.

The book also contains discussions on how the bankrupt may be discharged or the bankruptcy order annulled, and includes discussion on appeals and stay procedures against the bankruptcy order. Concise yet comprehensive, with discussions well supported by statutory and case authorities, this book provides a clear and organised account of the practice of insolvency law in Malaysia.

Key Features

• Simplified explanation and discussion on the law on personal insolvency based on the Insolvency Act 1967 as amended by the Bankruptcy (Amendment) Act 2017
• The topics are organised systematically through the insolvency process to ensure easy appreciation of the materials in the book
• Written in clear language without excessive legal jargons so as to make the text available for non-legal persons to understand the subject
• Annotated sample forms from the Department of Insolvency are reproduced in Appendices for easy reference

Table of Contents

1. Introduction to Personal Insolvency
2. Voluntary Arrangements in Bankruptcy
3. Debtors and Creditors
4. Acts of Bankruptcy
5. Bankruptcy Notice and Petition
6. Creditor’s Petition
7. Debtor’s Petition
8. Bankruptcy Order
9. Disqualifications and Disabilities of a Bankrupt
10. Discharge and Annulment
11. Appeals and Stays

Appendix 1. Guide to Complete Statement of Affairs Form

Appendix 2. Statement of Income and Expenses

Appendix 3. Application to Open or Activate a Bank Account

Appendix 4. Application to Travel Overseas

Appendix 5. Surety Form

Appendix 6. Sponsor Form