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…

Finance Minister
Nirmala Sitharaman
on Tuesday introduced Bankruptcy Code Amendment Bill, 2025 to amend the Insolvency and Bankruptcy Code, 2016. The bill has proposed multiple changes to fast-track the insolvency proceedings in the country. The amendments proposed pertain to curbing delays by empowering creditors to initiate insolvency process outside of court in case of genuine business failures.

Enabling provisions for domestic group insolvency and cross-border insolvency, and various other changes are also part of the bill. “These amendments aim to facilitate faster admission, resolution, and liquidation processes, maximize asset value, and improve governance,” a source pointed out. Here…

[SINGAPORE] A total of 466 luxury items and 58 pieces of gold bars from the S$3 billion money laundering case have been handed over by the police to professional services firm Deloitte to manage and liquidate.

They include Patek Philippe and Richard Mille watches, multiple diamond-encrusted jewellery, Hermes and Louis Vuitton handbags. The gold bars each weighed between 999 g and 1 kg.

The assets were among items seized in an anti-money laundering operation that saw 10 foreigners arrested in multiple raids on Aug 15, 2023, and 17 other suspects who fled Singapore amid the probe.

The police said it would progressively hand over all the remaining non-cash assets to Deloitte to manage and liquidate.

In total, police seized or took control of…