Bankruptcy (Malaysia) - What is a Bankrupt's Statement Of Affairs (SOA) to be filed at the Insolvency Department?

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asked on Feb 26, 2019 at 22:15
edited on Feb 26, 2019 at 22:23
by   carrie1226
Insolvency Act 1967 [Act 360]

Section 16

16. (1) Where a bankruptcy order is made against a debtor he shall make out and submit to the Director General of Insolvency a statement of and in relation to his affairs in the prescribed form, verified by affidavit, showing the particulars of his assets, debts and liabilities, the names, residences and occupations of his creditors, the securities held by them respectively, the dates when the securities were respectively given, the cause of his insolvency, the date when he last balanced his accounts before becoming insolvent, the amount of his capital at the date of such balance, after providing for all his liabilities and making allowances for bad and doubtful debts, and such further and other information as is prescribed or as the Director General of Insolvency requires. 

(2) The statement shall be so submitted within the following times: 
(a) if the order is made on the petition of the debtor, within seven days from the date of the order;
(b) if the order is made on the petition of a creditor,  within twenty-one days  from the date of the order, but the Director General of Insolvency may in either case for special reasons extend the time by order made under his hand, to be forthwith filed, recording the reasons therefor. 

(3) If the bankrupt fails without reasonable excuse, proof whereof shall lie on him, to comply with the requirements of this section he shall be guilty of a contempt of court  and may be punished accordingly. 

(4) Any person stating himself, in writing, to be a creditor of the bankrupt may personally or by agent inspect this statement at all reasonable times and take any copy thereof or extract therefrom, but any person untruthfully so stating himself to be a creditor shall be guilty of a contempt of court and shall be punishable accordingly on the application of the Director General of Insolvency. 

Example of the SOA mentioned, read @sam4 , the documents send to him is the SOA documents.
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answered on Mar 5, 2019 at 22:44
edited Mar 5, 2019 at 22:48
by   jeff005
Further Reads

This is a sample of the I&E  (Income & Expenditure) Statement to be submitted with the SOA under Section 38(1)(b) Insolvency Act 1967.
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