As everyone may be aware, following the introduction of the Insolvency Act 1967, a social guarantor can no longer be subjected to bankruptcy proceedings as Section 5(3) of the Insolvency Act provides absolute protection to social guarantors. Now what about non-social guarantors? Unlike social guarantors, non-social guarantors do not enjoy complete immunity from bankruptcy proceedings….
1. If I have been declared bankrupt, what should I do to discharge myself? There are several methods for obtaining a discharge from bankruptcy, which can vary depending on the facts. A person who is declared bankrupt may remove his /her bankruptcy status either by way of discharge application pursuant to section 33, 33A and…
I. ILLUSTRATION Ali was made bankrupt in 2023. However, Siti and Mark wish to sue him for the following matters, respectively: Siti wishes to file a civil suit against Ali for a debt due and owed by Ali of RM50,000.00. Mark, a famous influencer, also wishes to file a defamation suit against Ali for a…
