PETALING JAYA: What is bankruptcy and what are the restrictions imposed on a person who has been declared a bankrupt?
The Insolvency Act 1967 was amended in 2020, to raise the bankruptcy threshold from RM50,000 to RM100,000. This was the second time the bankruptcy threshold was increased within a span of a few years, after it was raised from RM30,000 to RM50,000 in 2017.
Already a subscriber? Log in.
Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
