The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, tabled in Parliament, seeks to overhaul the IBC framework with provisions for creditor-initiated insolvency, domestic group insolvency, cross-border proceedings, and faster resolution timelines.

To address long delays, currently averaging over 434 days versus the mandated 14, the Bill amends Section 7 to ensure financial creditor applications are admitted solely on proof of default, with information utility records deemed sufficient evidence.

This aims to reduce value erosion for debtors.

The Bill expands the definition of resolution plans, restricts the corporate applicant’s role in appointing resolution professionals, clarifies government dues priority, and limits…

The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, tabled in Parliament, seeks to overhaul the IBC framework with provisions for creditor-initiated insolvency, domestic group insolvency, cross-border proceedings, and faster resolution timelines.

To address long delays, currently averaging over 434 days versus the mandated 14, the Bill amends Section 7 to ensure financial creditor applications are admitted solely on proof of default, with information utility records deemed sufficient evidence.

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This aims to reduce value erosion for debtors.

The Bill expands the definition of resolution plans, restricts the corporate applicant’s role in appointing resolution professionals, clarifies government dues priority, and limits…

KUALA LUMPUR, Aug 13 — The Malaysian Department of Insolvency recorded 4,194 bankruptcy cases involving civil servants between 2020 and June 2025, about 0.3 percent of the nation’s 1.6 million public sector workforce. 

Deputy Finance Minister Lim Hui Ying said the Credit Counselling and Debt Management Agency (AKPK) offers advisory services, financial management assistance and debt restructuring programmes for individuals facing serious financial difficulties.

“For new officers, the Public Service Department conducts the Mind Transformation Programme, which provides early exposure to personal financial management to ensure they can manage debt prudently.

“Civil servants are also bound by a…

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The increase in business distress was recorded across Wiltshire and the South East, with the latest jump taking numbers from 163 in June to 185 in July, according to data from Creditsafe.

The figures, compiled by R3, the UK’s insolvency and restructuring trade body, reflect early signs of business distress including administrator and liquidator appointments as well as creditors’ meetings.

Neil Stewart, chairman of R3’s Southern and Thames Valley region, said: “July’s rise is not encouraging but may be just a blip and not indicative of a longer-term trend.

“Nonetheless, it reflects the continued economic volatility that has defined the UK’s financial landscape in recent years.”

The South East recorded the…

The increase in business distress was recorded across Wiltshire and the South East, with the latest jump taking numbers from 163 in June to 185 in July, according to data from Creditsafe.

The figures, compiled by R3, the UK’s insolvency and restructuring trade body, reflect early signs of business distress including administrator and liquidator appointments as well as creditors’ meetings.

Neil Stewart, chairman of R3’s Southern and Thames Valley region, said: “July’s rise is not encouraging but may be just a blip and not indicative of a longer-term trend.

“Nonetheless, it reflects the continued economic volatility that has defined the UK’s financial landscape in recent years.”

The South East recorded the…

The increase in business distress was recorded across Wiltshire and the South East, with the latest jump taking numbers from 163 in June to 185 in July, according to data from Creditsafe.

The figures, compiled by R3, the UK’s insolvency and restructuring trade body, reflect early signs of business distress including administrator and liquidator appointments as well as creditors’ meetings.

Neil Stewart, chairman of R3’s Southern and Thames Valley region, said: “July’s rise is not encouraging but may be just a blip and not indicative of a longer-term trend.

“Nonetheless, it reflects the continued economic volatility that has defined the UK’s financial landscape in recent years.”

The South East recorded the…

The increase in business distress was recorded across Wiltshire and the South East, with the latest jump taking numbers from 163 in June to 185 in July, according to data from Creditsafe.

The figures, compiled by R3, the UK’s insolvency and restructuring trade body, reflect early signs of business distress including administrator and liquidator appointments as well as creditors’ meetings.

Neil Stewart, chairman of R3’s Southern and Thames Valley region, said: “July’s rise is not encouraging but may be just a blip and not indicative of a longer-term trend.

“Nonetheless, it reflects the continued economic volatility that has defined the UK’s financial landscape in recent years.”

The South East recorded the…

Former MyBucks SA CEO David van Niekerk claims the provisional liquidation of Ecsponent, the previously JSE-listed company now renamed Afristrat, appears to be an attempt to rewrite history and misattribute responsibility for the group’s dire financial situation.

Van Niekerk said the underlying issue remains the actions of Afristrat CEO George Manyere, “not only as a participant, but as the architect of the downfall of both Afristrat and MyBucks”.

He rejected a suggestion in a founding affidavit in support of Afristrat’s liquidation that it was a “bona fide error in judgment” by Manyere to convert R420 million in MyBucks debt into equity in November…