Datuk Seri Azalina Othman said the Bankruptcy Act 1967 will be amended to enable a more realistic approach in addressing bankruptcies. Picture by Choo Choy MayKUALA LUMPUR, Nov 7 The Bankruptcy Act 1967 will be amended to include an escape clause for debtors declared insolvent over unpaid debts, de facto law minister Datuk Seri Azalina Othman said.
According to The Star newspaper, the minister in the Prime Ministers Department this was a more realistic approach in addressing bankruptcies, adding that many declared insolvent were unaware of their status as they were not served bankruptcy papers.
We want to create a special mechanism whereby if you have a lot of…
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