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Annulment and Discharge of Bankruptcy

February 9, 2019
There are three main ways as to how a bankrupt can have his bankruptcy terminated:

(a) Making an application in court at any time for the bankruptcy order to be annulled on grounds ie debt has been paid in full or that he ought not to be made a bankrupt on some technical grounds;

(b) Making an application in court at any time for a court discharge. This is subject to a stringent requirement and the Insolvency Department has to put a report emphasizing among others the conduct and cooperation of the bankrupt with the department;

(c) Making an application to the DGI for a discharge under section 33A of Bankruptcy Act 1967. Such application can only be made only if 3 years has lapsed from the date order was made upon satisfying some criteria imposed by the DGI for the exercise of his discretion. Among the factors that the DGI will take into consideration are the conduct of the bankrupt, the extent of his cooperation, the cause for bankruptcy, old age and infirmities etc.

References
  1. FAQS - Malaysian Department of Insolvency
  2. Act 360 - Insolvency Act 1967 (as at 1 November 2017)
  3. Annulment of Bankruptcy Order


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Knowledge Base ID :   1595
Last Reviewed :   February 9, 2019
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