On 21 November 2016, Bankruptcy (Amendment)) Bill 2016 was tabled in Parliament. The Bill will rename Bankruptcy Act 1967 to the Insolvency Act 1967 and will then have important implications, in particular to financial institutions & corporations whose loans / debts are secured by personal guarantees, once their amendments are incorporated in the existing Bankruptcy Act 1967 and are passed and in force. Nonetheless, it would be prudent for financial institutions / corporations which rely on personal guarantees to keep the new changes in mind. This alert provides a summary of some of the key amendments which may affect you. Already the old Bankruptcy Act 1967, though amended on numerous occasions, is imbued with numerous onerous provisos, albeit difficulty to enforce. And thus, it can be seen that the new Bankruptcy Bill is more borrower-friendly & will make it more difficult for the creditors to commence and to maintain the bankruptcy proceedings.
(B) Course Objective
• Concerned with changes of bankruptcy laws in malaysia
• Accustom to past amendments on bankruptcy laws
• Difficult for creditors to maintain & commence bankruptcy proceedings
• Divisive judgment on right to appeal in same court
• Courts & dgi have been relaxed & had make enough concessions
• Revisit unscatched sections 33, 33a & 33b
• Punitive, if do not adhere to provisions of bankruptcy act
• Quickly explain what most fail to grasp bankruptcy laws in malaysia
• Highlight few real incidents
(C) Who Should Attend
Clerks, Supervisors, Officers, Executives, Managers, Finance Managers & Finance/Account Executives, Accountants, & Company Secretaries
(D) Highlights of Coaching
• Presentation Notes
• Case Incidents and Case Laws, Illustrations & References
• Q & A
Date： 17 June 2020 (Wed)
Time： 9AM - 5PM
Venue： Pullman Hotel, Bangsar
Early Bird (before 30 May 2020) - RM600
Special Offer (before 8 June 2020) - RM660
Normal Fee - RM720
* Fee includes course Notes, Lunch, Refreshments/ Tea Breaks, * Certificate of Completion & 6% Government Service Tax
(i) 15% Overriding Discount for SST2u Loyalty Card members
(G) Course Features
 INTRODUCTION TO BANKRUPTCY LAWS IN MALAYSIA
• What you must know about bankruptcy?
• What is bankruptcy?
• Who can be made a bankrupt in Malaysia?
• What happens when a person is declared bankrupt?
• What will happen to your assets & property if you become a bankrupt?
• How would being a bankrupt affect my life?
 CHANGES OF BANKRUPTCY LAWS
• Easier to get out of bankruptcy
• Other changes in 2017
 ACCUSTOM TO PAST AMENDMENTS ON BANKRUPTCY LAWS
• Annulment of bankruptcy order
• Discharge from bankruptcy
• Under S33 of Act
• Bungsar Hill Holdings Sdn Bhd v. Dr Amir Farid Datuk Isahak
• Public Bank v. Kok Lee Wah
 CHALLENGES FOR CREDITORS TO MAINTAIN & COMMENCE BANKRUPTCY PROCEEDINGS
• A change of name
• Voluntary arrangement
• Service of bankruptcy papers
• Higher threshold
• Single bankruptcy order
• Social guarantor
• Other guarantors
• Stringent requirements for service
• New list of bankrupts allowed
• Automatic discharge
• New Insolvency Assistance Fund
• PP v. DATO' SUHAILI ABDUL RAHMAN DIVISIVE JUDGMENT ON RIGHT TO APPEAL IN SAME COURT
• Ho Ken Seng v Progressive Insurance Sdn Bhd
 REVISIONS, AMENDMENTS & SUBSTUTIONS TO PROVISIONS OF BANKRUPTCY ACT
• s2A) Voluntary arrangement
• s2B) Non-application
• s2C) Intention to propose voluntary arrangement
• s2D) Interim order
• s2E) Effect of interim order
• s2F) Nominee
• s2G) Registration of nominee
• s2H) Register of nominees
• s2I) Meeting of creditors to approve debtor’s proposal
• s 2J – Q (OTHERS)
• Amendment of s.3
• Amendment of s.5
• Amendment of s.6
• Amendment of s.7
• Amendment of s.8
• Amendment of s.12
• Amendment of s.18
• Amendment of s.30
 CASE STUDIES: ASIA COMMERCIAL FINANCE (M) BHD v. BASSANIO TEO YANG REVISIT UNSCATCHED SECTIONS 33, 33a & 33b
• Amendment of s.33
• Amendment of s.33a
• Amendment of s.33b
• New s 33c - Automatic discharge
 PUNITIVE MEASURES UNDER BANKRUPTCY ACT
• New S.77a - Insolvency Assistance Fund
• Ketua Pengarah Insolvensi v Goh Ah Kai & Anor
 BANKRUPTCY PREDICAMENT & HOW TO GET OUT OF ONE
• What are reasons Malaysians are declared bankrupt?
• Can a person be declared bankrupt without his knowledge
• Where to get help
• Get free professional help
• Discuss with your creditors
• Asses your financial commitments & assets
• Is there an automatic discharge for bankruptcy?
(H) About Speaker
- CONSULTANT/ EXPERIENCED EX-BANKER
Agee Lee has more than 22 years of experience in the commercial banking in Malaysia and has worked in Malayan Banking Berhad and seconded to Kwong Yik Bank Berhad in 1980 to set up a Legal Documentation Department.
He started as a trainee officer moving up to Branch Manager, Loan Manager managing Corporate and Commercial Loans and finally as Head of Loan Recovery Division bringing down NPLs to RM65m from RM800m. He also worked in a property development company, then constructing a condominium and Nilai 3, for 2 years, and involved in a manufacturing company before working for 2 years in a construction company, executing federal contracts on roads, schools and colleges, in Kota Kinabalu, Sabah.
Besides marketing and approving the commercial loans, he was instrumental in setting up the Loan Recovery Section supervising about RM1.9b NPLs and was involved in structuring loans and lecturing modules on debt collecting and legal documentation on securities for 13 years. His last appointment was with Hong Leong Bank Berhad in 2003/4 as Head of Remedial Management Department.
Agee Lee holds Honours Degree in Economics (major in Business Administration) from Universiti Malaya, Associate of Institute of Bankers (London), Diploma in Marketing Management (NPC) and Certificate in Financial Planning (MII).
He is now a Training Consultant for IBBM, MIA and Banks in Malaysia, Singapore and Vietnam. Currently he has been giving talks on practical topics that will boost skills and confidence of participants.
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