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Bankruptcy from Bank Pertanian

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asked on Aug 3, 2017 at 05:40
by   shamsulkamal85
edited on Sep 30, 2017 at 03:20
 
Can I know if there is any possibility that a bank can make a guarantor a bankrupt? When I check the status of the principal borrower of the loan, no bankruptcy proceeding has been commenced yet.

Baru saja dibankrapkan 25 July 2017.. I just went to the Jabatan Insolvensi Malaysia (JIM). They were also surprised but I have made an appointment to meet the Insolvency Officer this 15 August. 

I called the bank and managed to speak to the bank officer. I asked them as to why the principal borrower has not been adjudged a bankrupt while I was made a bankrupt. The officer kept saying that the principal borrower has special case with the bank. When I insisted for an answer then suddenly she told me that the principle borrower has won a legal battle against the bank, so the bank has no choice but to file bankruptcy against me.

The officer said they tried to call me and sent me letter to address I no longer use. She then ask me whether I read newspaper. I told them, no, I read online news.

My point here is what should I do? My savings account has been frozen. My HR already noticed this as I work in the banking industry too.

I also went to Bank Negara to lodge a complaint but the officer at Bank Negara said that I can't lodge complaint because I don't have any proof to do so.

I did a search with Jabatan Insolvensi Malaysia (JIM) on the principal borrower's name and it was confirmed that he is not a bankrupt.

Can someone please advise me..

They ask me go to court and find the case file and ask for a copy to lodge complaint. Can I do that? Can I sue the bank because of this?
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answered on Aug 3, 2017 at 13:30
by   jeff005
edited Sep 30, 2017 at 03:32
 
If the principle borrower can fight the bankruptcy, you can too. If you have the funds, get a good lawyer to represent you. If you don't have, read the current case of @Kunta_kinti, it's  all about the fight against Affin Bank and their panel of lawyers.

You work for MBB rite? I don't believe it is BNM that would have closed all your accounts en bloc.
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answered on Aug 3, 2017 at 16:08
by   notalawyer
edited Sep 30, 2017 at 03:33
 
Firstly, what type of loan is it?

Is it a business loan?
If it is a business loan, you are not a Social Guarantor.
If it is a car, house or education loan, you are a Social Guarantor.

Under bankruptcy law, a Social Guarantor cannot be made a bankrupt unless the principle / borrower is first made a bankrupt.

They ask me go to court and find the case file and ask for a copy to lodge complaint. Can I do that?
You can do a file search at High Court counter using your bankruptcy number. 
Pay RM10 for the search. ( carian fail )
Then pay RM1 to photostat every page that you need.

Can I sue the bank because of this?
Before you sue anybody, you first need to get out of bankruptcy,
because by law a bankrupt cannot sue anybody.

You can apply to High Court for a Judicial Review of your bankruptcy status.
But as a bankrupt, since you cannot sue anybody, you first need to get permission from the Director General of Insolvensi before you can file for Judicial Review.
Ask your Official Assignee for this letter.  ( this letter is sometimes called Sanction Letter )
If you are successful in your Judicial Review, your bankruptcy will be annulled. ( cancelled )
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answered on Aug 3, 2017 at 22:01
by   shamsulkamal85
edited Sep 30, 2017 at 03:44
 
@Jeff005

I'm working with Standard Chartered Bank and the payroll account and one saving account with CIMB have been frozen. If I can afford, I would like to fight against the bank. Thank you for the answer

@notalawyer
I will go to the High Court to get a copy of it. About suing the bank, I will think about it. The bank has called me and offers a 50% waiver on the settlement amount but I am required to write in a letter of proposal for settlement. I might proceed with settlement amount.
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answered on Aug 3, 2017 at 22:03
by   shamsulkamal85
@notalawyer
It's a business loan at bank pertanian.
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answered on Aug 3, 2017 at 23:35
by   notalawyer
It's a business loan at bank pertanian.

Since it is a business loan, you are not a Social Guarantor.
So forget about the Judicial Review.
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answered on Aug 4, 2017 at 22:40
by   shamsulkamal85
edited Sep 30, 2017 at 03:46
 
@notalawyer

What should I do? Should I just give up and pay at the Jabatan Insolvensi Malaysia?
The principle borrower walked out free.. but I'm the one who has been adjudged a bankrupt. I really don't know what I should do next.
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answered on Aug 4, 2017 at 23:01
by   notalawyer
edited Sep 30, 2017 at 03:47
 
The principle borrower walked out free.. but I'm the one who has been adjudged a bankrupt.
The borrower fought the case in Court and won.
You did not fight.  So who is to blame?

I really don't know what I should do next.
Since the bank offer 50% discount, you can get a discount offer letter from the bank and pass it to Jabatan Insolvensi Malaysia (JIM).
At least got discount...
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answered on Aug 7, 2017 at 17:47
by   shamsulkamal85
edited Sep 30, 2017 at 03:50
 
I have an appointment with Jabatan Insolvensi Malaysia (JIM) on 15 August 2017. Will update here on the results of the meeting. Thanks.
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answered on Aug 8, 2017 at 03:28
by   kiki
edited Sep 30, 2017 at 03:50
 
I have an appointment with Jabatan Insolvensi Malaysia (JIM) on 15 August 2017.
What is this appointment all about? Submission of income and expenses statements?
Are accepting the bank proposal of 50% discount?
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answered on Aug 8, 2017 at 20:35
by   shamsulkamal85
edited Sep 30, 2017 at 03:51
 
@kiki

Submission of income and expenses statements and submitting discounted letter from Agrobank (have submitted the proposal as per suggestion given by the bank officer).
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