Bankruptcy Threshold May Be Raised

Summary


GEORGE TOWN: The government plans to increase the minimum bankruptcy threshold from RM30,000 to RM50,000 as part of its reforms on insolvency laws.

With the new limit, a person can only be declared a bankrupt if his debts are above RM50,000.

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Extract


Bankruptcy Threshold May Be Raised

Deputy Minister in the Prime Minister's Department Datuk Liew Vui Keong told the House yesterday that the Malaysian Insolvency Department...

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