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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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The Malaysian government said that it has surpassed its target by discharging approximately 142,510 bankruptcy cases, exceeding the initial goal of 130,000, following amendments to the Insolvency Act, the Malaysian Reserve reported. Prime Minister Datuk Seri Anwar Ibrahim said the Malaysia Department of Insolvency (MdI) Second Chance Policy aims to discharge 130,000 people declared bankrupt within one year after the enforcement of Act A1695.
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Malaysia’s central bank held its benchmark interest rate unchanged again, extending its policy pause to a year as it keeps a watchful eye on growth and inflation, the Wall Street Journal reported. Bank Negara Malaysia kept its overnight policy rate at 3.00% on Thursday. That’s the same level as in May last year, when the bank delivered a surprise rate hike. Bank Negara reiterated that its policy stance remains supportive of the economy and gave an upbeat view of Malaysia’s economic prospects.
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Liquidators of companies linked to the 1Malaysia Development Bhd scandal have filed for chapter 15 under the U.S. Bankruptcy Code, as they look to recover assets, Bloomberg News reported. A petition listing 1MDB Energy Holdings Ltd, Platinum Global Luxury Services Ltd, Aabar International Investments PJS Ltd, Blackrock Commodities (Global) Ltd, and Alsen Chance Holdings Ltd - all registered in the British Virgin Islands - was submitted in the Southern District of Florida court, dated Feb. 15.
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