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Grounds to Oppose Creditor Petition

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asked on Jan 22, 2021 at 22:41
by  
edited on Nov 2, 2021 at 00:06
 
Some of the grounds to oppose a creditor petition / bankruptcy petition (CP) are as stated below:

Ground (1):

The CP must be filed within 6 months from the Act of Bankruptcy

Illustration A, Bankruptcy Notice (BN) served by hand:

Date A is the date the Bankruptcy Notice is served to you
Date B is the date on which act of bankruptcy committed, which is 7 days after Date A
Date C is the last date to file the CP, which is 6 months from Date B

If the CP is filed after Date C, then the act of bankruptcy is no more available for the CP, consequently the CP is invalid.

Illustration B, BN is advertised in newspaper:

Date A is the date of advertisement 
Date B is the date the BN is considered served which is 7 days from Date A
Date C is the date on which the act of bankruptcy committed, which is 7 days from Date B
Date D is the last date to file the CP, which is 6 months from Date C

If the CP is filed after Date D, then the act of bankruptcy is no more available for the CP, consequently the CP is invalid.

to be continued.........
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5 Answers

answered on Jan 24, 2021 at 14:05
by  
edited Jan 24, 2021 at 14:07
by   harapan besar
  
  Grounds To Oppose Creditor Petition (CP)

  Ground 2 : the Affidavit of truth of  statements in petition
                    is defective ( The Affidavit )

              2.1   The affidavit must be affirmed by an authorized 
                      officer appointed by bank

         
              2.2   The affidavit must be witnessed by bank's
                      lawyer.

             2.3    the affidavit can not be dated earlier than 
                      the date of the CP.

  

   
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answered on Jan 25, 2021 at 07:49
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   Grounds To Oppose Creditor Petition (CP)

    Ground 3 :  Incorrect date stated for the act of 
                       bankruptcy

                      3.1 Check whether the date stated for the 
                            act of bankruptcy is correct

    to be continued
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answered on Jan 26, 2021 at 08:23
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edited Jan 26, 2021 at 08:26
by   harapan besar
 Grounds To Oppose Creditor Petition (CP)

   ....continue from the above posting

      3.2  How to determine date for the act of bankruptcy

             3.2.1  If service of bankruptcy notice (BN)
                       is by personal service, then the date 
                       for the act of bankruptcy is 7 days after
                       the date the BN is personally served.

           3.2.2    If the Court gives order for substitute service
                       by :
                       i. put the BN on the Court's Notice Board; and
                      ii. by registered post; and
                      iii. by advertisenent in newspaper.

                      The creditor must have completed all the above
                       3 substitued service. The date for the Act of 
                       bankruptcy is 7 days after the date of the
                       latest completed substitued service (penyampaian
                       sempurna)

  to be continued.......

 
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answered on Jan 26, 2021 at 23:41
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 Grounds To Oppose Creditor Petition (CP)

 You may ask questions, but please keep 
 it short and brief.
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answered on Jan 27, 2021 at 13:28
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edited Jan 27, 2021 at 13:34
by   harapan besar
  ....continue from posting above

    Grounds To Oppose Creditor Petition (CP)

     Ground 4 :  The balance of outstanding debt
                        is less than RM50,000.00***

                       4.1  If RMxxxx is the judgement sum and if RMyyy
                               is the total amount paid by a debtor after 
                               the service of a bankruptcy notice, then, if 
                               RMxxxx minus RMyyy is less than 
                               RM50,000.00***, the creditor is not 
                              entitled to present a CP, hence the 
                              CP is invalid.

     ***NOTE : The threshold has been increased from RM50,000.00
                      to RM100,000.00.
 
           NOTE: The contents herein are intended to be for general information 
                      and reference only, and it does not, and is not intended to, 
                      constitute or substitute for legal advice
                  
   
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