KUALA LUMPUR: As of July, there are 159,781 unresolved bankruptcy cases in Malaysia, according to the Malaysian Department of Insolvency (MDI).
MDI director-general M. Bakri Abd Majid attributed the delays primarily to individuals’ failure to cooperate by submitting essential documents.
According to a Malay daily, these include lists of liabilities, completed statutory forms like the Statement of Affairs (PHE), and the Income and Expenditure Statement for six months.
Bakri said that when considering discharge applications, several factors were evaluated, including the reasons for the application, the percentage of dividends payable, and the bankrupt individual’s cooperation and attitude throughout the case administration.
“The failure of…
