Best Bankruptcy & Debt Lawyers in Malaysia

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Kevin Wu & Associates
Petaling Jaya, Malaysia

Founded in 2020
7 people in their team
English
Malay
Chinese
We are a full-service law firm based in Kuala Lumpur, Malaysia. We possess a broad range of expertise to serve our clients. Our Firm's 3 Core Divisions are Corporate Advisory, Dispute Resolution and Criminal Law. Each of our Divisions is helmed by specialist practitioners who are able to leverage...
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Messrs TAN, DAHA & FADZILAH
Johor Bahru, Malaysia

Founded in 2016
8 people in their team
English
The Firm was established on 01-06-2016 with spectrum of clients not only in Johor Bahru but also from outstations by more means of access and delivery. Our firm provides comprehensive range of professional services covering litigation and non-litigation works. More particularly the firm...
Messrs. Julian Stephanie
Kuala Lumpur, Malaysia

Founded in 2018
English
Messrs. Julian Stephanie, established in January 2018 by partners Julian Chan and Stephanie Ang, is a boutique law firm in Malaysia renowned for its innovative approach and commitment to excellence. The firm specializes in real estate disputes, restructuring and insolvency, employment and benefits,...
Ang & Xen
Petaling Jaya, Malaysia

English
Ang & Xen, located in Petaling Jaya, Selangor, Malaysia, is a dynamic law firm offering a comprehensive range of legal services to both local and international clients. The firm's areas of practice encompass Administrative and Constitutional Law, Banking, Finance and Securities, Consumer...
K.W. Chong & Partners
Ipoh, Malaysia

Founded in 1965
10 people in their team
Malay
ABOUT OUR FIRMOur firm was first established in 1965 but over the years, it had undergone material changes in its constitution, culminating in a dramatic change in the firmโ€™s name to Messrs K.W. Chong & Partners, in the year 2001; a water-shed recognition for the existing partners.We have...
Asbir, Hira Singh & Co.
Ipoh, Malaysia

Founded in 1980
English
Asbir, Hira Singh & Co., established in 1980 in Ipoh, Malaysia, has grown into a distinguished law firm with a branch in Kuala Lumpur since 1990. The firm specializes in a broad spectrum of legal areas, including land law, professional and medical negligence, company law, commercial and banking...
Cheang & Ariff
Kuala Lumpur, Malaysia

Founded in 1986
English
Cheang & Ariff is a distinguished Malaysian law firm renowned for its comprehensive legal services across various sectors. With over 37 years of experience, the firm offers expertise in areas such as arbitration, corporate law, environmental litigation, real estate, competition law, construction,...
GK Soh & Partners
Kuala Lumpur, Malaysia

English
GK Soh & Partners, established by Founder and Managing Partner Soh Gee Kian, is a distinguished Malaysian law firm with offices in Kuala Lumpur, Kemaman, and Kuala Terengganu. The firm offers a comprehensive range of legal services, including civil and criminal litigation, conveyancing, and...
Khaw Ewe Seng & Co.
George Town, Malaysia

Founded in 1976
50 people in their team
Malay
AboutWelcome to Khaw Ewe Seng & Co.Based in the city of Penang, Malaysia. An advocate and solicitor of Malaya by the name of David Khaw established Khaw Ewe Seng & Co in the year 1976. The firm has grown considerably since its early beginnings. This year, the firm celebrates 41 years of...
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About Bankruptcy & Debt Law in Malaysia

Bankruptcy & Debt law in Malaysia governs the legal processes and procedures for individuals and companies facing financial difficulties. It provides a framework for managing debts, reorganizing finances, and seeking relief from overwhelming financial obligations.

Why You May Need a Lawyer

There are several common situations where you may need to consult with a lawyer specializing in Bankruptcy & Debt law in Malaysia. These may include facing foreclosure, dealing with creditors, negotiating debt settlements, or exploring options for bankruptcy.

Local Laws Overview

In Malaysia, Bankruptcy law is primarily governed by the Bankruptcy Act 1967. This law outlines the procedures for declaring bankruptcy, the rights and responsibilities of bankrupt individuals, and the powers of the Director General of Insolvency. Debt relief options such as Individual voluntary arrangements (IVAs) and Debt Relief Orders (DROs) are also available under Malaysian law.

Frequently Asked Questions

1. What is the process for declaring bankruptcy in Malaysia?

The process for declaring bankruptcy in Malaysia involves filing a bankruptcy petition with the High Court, attending a hearing, and having a bankruptcy order issued against you if the court finds in favor of the petitioner.

2. Can I stop a foreclosure by filing for bankruptcy?

Filing for bankruptcy can temporarily stop a foreclosure process by triggering an automatic stay, which prohibits creditors from pursuing collection actions against you. However, it is essential to consult with a lawyer to understand the specific implications for your situation.

3. What is the role of the Director General of Insolvency in bankruptcy proceedings?

The Director General of Insolvency is responsible for overseeing bankruptcy proceedings in Malaysia, including administering bankrupt estates, investigating the conduct of bankrupt individuals, and facilitating debt repayment arrangements.

4. Are there alternatives to bankruptcy in Malaysia?

Yes, alternatives to bankruptcy in Malaysia include debt restructuring, debt consolidation, and debt settlement negotiations. Consult with a lawyer to explore these options and determine the best course of action for your financial situation.

5. How long does bankruptcy last in Malaysia?

Bankruptcy in Malaysia typically lasts for a period of three to five years, during which time the bankrupt individual is subject to certain restrictions and obligations imposed by the law.

6. Can I discharge all of my debts through bankruptcy?

Not all debts can be discharged through bankruptcy in Malaysia. Certain types of debts, such as student loans, child support payments, and court-ordered fines, may not be eligible for discharge. Consult with a lawyer to understand which debts can be discharged in your case.

7. What are the consequences of bankruptcy in Malaysia?

The consequences of bankruptcy in Malaysia may include limitations on obtaining credit, restrictions on travel, and implications for future employment opportunities. It is essential to seek legal advice to fully understand the implications of bankruptcy in your specific situation.

8. Can I apply for bankruptcy voluntarily in Malaysia?

Yes, you can voluntarily file for bankruptcy in Malaysia by submitting a bankruptcy petition to the High Court. This may be a strategic option for individuals seeking debt relief and protection from creditors.

9. How can a lawyer help me with Bankruptcy & Debt legal matters in Malaysia?

A lawyer specializing in Bankruptcy & Debt law can provide legal advice, represent you in court proceedings, negotiate with creditors on your behalf, and help you navigate the complexities of bankruptcy and debt relief options in Malaysia.

10. How much does it cost to hire a lawyer for Bankruptcy & Debt legal assistance in Malaysia?

The cost of hiring a lawyer for Bankruptcy & Debt legal assistance in Malaysia may vary depending on the complexity of your case, the lawyer's experience and expertise, and the fee structure agreed upon. It is advisable to discuss fees and payment arrangements with your lawyer before engaging their services.

Additional Resources

For additional resources and information on Bankruptcy & Debt law in Malaysia, you may consider contacting the Malaysian Department of Insolvency, the Bar Council of Malaysia, or reputable law firms specializing in Bankruptcy & Debt matters.

Next Steps

If you are facing financial difficulties, debt-related issues, or considering bankruptcy in Malaysia, it is crucial to seek legal advice from a qualified lawyer specializing in Bankruptcy & Debt law. Contact a legal professional to discuss your options, rights, and the best course of action to address your financial challenges effectively.

Lawzana helps you find the best lawyers and law firms in Malaysia through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Bankruptcy & Debt, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Malaysia - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.