KUALA LUMPUR (May 24): The Dewan Rakyat unanimously passed amendments to the Insolvency Act 1967 via a voice vote on Wednesday (May 24).
The amendments involve improvements to the Acts automatic discharge mechanism, streamlining of creditor meeting process, enabling the use of technology in bankruptcy administration, and addition of two eligible bankrupt categories to be released through a certificate issued by the director-general of insolvency without objections from the creditors.
This Bill illustrates the governments serious steps to ensure effective insolvency administration in Malaysia, Minister in the Prime Ministers Department (Law and Institutional Reforms) Datuk Seri Azalina Othman Said said during her winding-up speech fo…
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