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Khoo’s Law and Practice of Bankruptcy in Malaysia, 2nd Edition

Judicial Decisions Affecting Bankers and Financiers, Second Edition

Khoo’s Law and Practice of Bankruptcy in Malaysia, 2nd Edition

Author: Khoo Kay Ping
Publisher: LexisNexis Malaysia
ISBN: 9789679625066
Published In: January 2003
Format: Paperback
Jurisdiction: Malaysia ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

Details

The first edition of this book received an overwhelming reception the moment it was published in late 2000. This necessitated a reprint in early 2001. Since then, case law has developed and the Bankruptcy Act amended. Continuing the very same writing style coupled with the high quality literature research and structure of the first edition, the second edition provides a concise update on the development and changes of the law and practice relating to bankruptcy in Malaysia.

The second edition contains detailed updates, among others, as follows:

The Federal Court's decision in United Malayan Banking Corp Bhd v Ernest Cheong Yong Yin (restricting enforcement of judgment to a period of six years from the date of the judgment).
Amendments to the Bankruptcy Act which was passed by the Parliament in June 2003 and came into effect on 1 October 2003:

the minimum amount of debt which exposes the debtor to bankruptcy proceedings has been increased from RM10,000 to RM30,000;
the Official Assignee will be known as the Director General of Insolvency;
the Director General of Insolvency is empowered to appoint investigation officers who have the powers of a police officer in investigating bankruptcy offences;
the Director General of Insolvency is not required to give any reason if he decides to discharge a bankrupt;
a creditor is not allowed to commence bankruptcy proceedings against a social guarantor until he has exhausted all avenues to recover the debt from the principal debtor;
no unsecured creditors shall be entitled to any interest on the debts proved in bankruptcy after the date of the receiving order even if there is surplus in the estate.
Khoo's Law and Practice of Bankruptcy in Malaysia has proven to be, and will continue to be, with this second edition, an essential reading and reference material for anyone requiring guidance on the bankruptcy law and practice in Malaysia.

Chapter 1 - Introduction
Nature and effect of bankruptcy
Sources of law

Chapter 2 - Bankruptcy Jurisdiction
Courts
Persons subject to bankruptcy jurisdiction

Chapter 3 - Acts of Bankruptcy
Introduction
Acts of bankruptcy
Act of bankruptcy by a partnership

Chapter 4 - Bankruptcy Notice
Introduction
Issue of bankruptcy notice
Procedure
Compliance with bankruptcy notice
Setting aside bankruptcy notice

Chapter 5 - Bankruptcy Petition
Introduction
Debtor's petition
Creditor's petition

Chapter 6 - Interim Applications
Security for costs
Interim receiver
Stay of legal proceedings
Stay of bankruptcy petition
Consolidation of petitions

Chapter 7 - Receiving Order
Introduction
Effect of receiving order
Procedure following making of receiving order
Proposal of composition or scheme of arrangement
Approved composition or scheme of arrangement
Appeal against receiving order
Rescission of receiving order

Chapter 8 - Adjudication Order
Adjudication at hearing of bankruptcy petition
Adjudication after debtor has been allowed to propose composition or scheme of arrangement
Adjudication after approval of composition or scheme of arrangement by court
Effect of adjudication order
Procedure following making of adjudication order
Proposal of composition or scheme of arrangement
Annulment of adjudication order

Chapter 9 - Discovery, Realization and Distribution of Estate
Introduction
Bankrupt's property available for distribution
Discovery of assets
Realization of assets
Determination of debts
Distribution of estate

Chapter 10 - Discharge
Introduction
Application for discharge
Effect of discharge
Review of discharge order

Chapter 11 - Special Forms of Administration
Small bankruptcies
Wage-earner's administration
Administration of estate of insolvent deceased
Second bankruptcy
Administration of estate of deceased bankrupt in bankruptcy

Chapter 12 - Director General of Insolvency
Office of Director General of Insolvency
Duties and powers of Director General of Insolvency
Opposition to act or decision of Director General of Insolvency
Immunity of Director General of Insolvency
Control of Director General of Insolvency
Release of Director General of Insolvency

Chapter 13 - Procedure
Documents used in bankruptcy proceedings
Applications to court
Service of documents
Extension of time
Amendment
Revision and appeal
Costs
Inspection of court file

Chapter 14 - Criminal Offences
Introduction
Arrest of debtor
Bankruptcy offences