Best Creditor Lawyers in Malaysia

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GK Ganesan (International Arbitrator)
Kuala Lumpur, Malaysia

Founded in 1993
English
GK Ganesan (International Arbitrator) is a distinguished Malaysian law firm renowned for its expertise in international commercial arbitration and a broad spectrum of legal services. The firm specializes in areas such as insurance, bankruptcy, divorce, elder law, employment, family law,...
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...
Gibb & Co.

Gibb & Co.

30 minutes Free Consultation
Ipoh, Malaysia

Founded in 1892
50 people in their team
English
Malay
Hindi
The FirmGibb & Co is an established firm, that brings together the best people across our offices to provide a steadfast and staple array of legal services focusing on Client-Partner relationships.Our ValuesCompassionOur genuine care to help resolve problems lies in our compassion for the...
Foo and Co
Kuala Lumpur, Malaysia

Founded in 2005
English
Established in 2005, Foo and Co. is a distinguished law firm in Malaysia, committed to delivering comprehensive legal services tailored to meet the diverse needs of its clients. The firm's practice areas encompass conveyancing, banking and finance, land law and property matters, property...

Founded in 2020
English
Kevin Wu & Associates - Advocates & Solicitors, based in Kuala Lumpur, Malaysia, is a full-service law firm offering comprehensive legal solutions across three core divisions: Corporate Advisory, Dispute Resolution, and Criminal Law. Each division is led by specialists with extensive experience,...
KLER Advocates & Solicitors
Petaling Jaya, Malaysia

Founded in 2014
English
Established in 2014, KLER Advocates & Solicitors has evolved from its initial practice in Sungai Buloh to become a prominent legal firm in Malaysia's Klang Valley, now headquartered in Petaling Jaya. The firm offers a comprehensive range of legal services, including commercial and corporate...
Ram Caroline Sha & Syah
Kuala Lumpur, Malaysia

Founded in 1973
English
Established in 1973, Ram Caroline Sha & Syah has evolved into a leading Malaysian law firm, renowned for its comprehensive legal services. The firm specializes in intellectual property, general litigation, and conveyancing, serving a diverse clientele that includes multinational corporations from...
Petaling Jaya, Malaysia

Founded in 1997
2 people in their team
English
P. E. LIM, located in Petaling Jaya, stands as a formidable presence in Malaysia's legal landscape. This esteemed firm is recognized for its comprehensive expertise across a broad spectrum of legal services, including bankruptcy, divorce, employment, family law, real estate, and trial law. Their...
Tay & Partners
Kuala Lumpur, Malaysia

Founded in 1989
English
Established in 1989, Tay & Partners is a full-service commercial law firm headquartered in Kuala Lumpur, Malaysia. The firm offers a comprehensive range of legal services to a diverse clientele, including local and multinational corporations across various industry sectors. With a team of over 30...
Arifin & Partners
Kuala Lumpur, Malaysia

Founded in 1977
English
Established in 1977, Arifin & Partners is a distinguished Malaysian law firm with over four decades of experience, offering comprehensive legal services across various practice areas. The firm's expertise encompasses banking, conveyancing, corporate and commercial law, family law, litigation and...
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About Creditor Law in Malaysia

Creditor law in Malaysia pertains to the rights and responsibilities of individuals and businesses who are owed money by debtors. This legal field covers various aspects, including debt recovery, bankruptcy proceedings, and enforcement of court orders related to outstanding debts.

Why You May Need a Lawyer

There are several situations where you may require legal assistance in matters related to creditors in Malaysia, such as:

  • Debt collection disputes
  • Bankruptcy filings
  • Enforcement of court judgments
  • Negotiating settlement agreements

Local Laws Overview

In Malaysia, creditor laws are primarily governed by the Insolvency Act 1967, the Companies Act 2016, and the Courts of Judicature Act 1964. These laws outline the procedures and remedies available to creditors in the event of non-payment by debtors.

Frequently Asked Questions

1. What are the legal options available to creditors in Malaysia?

Creditors in Malaysia have legal options such as filing a lawsuit, obtaining a court judgment, initiating bankruptcy proceedings, or seeking alternative dispute resolution methods like mediation.

2. How can I recover a debt from a debtor who refuses to pay?

If a debtor refuses to pay, you can pursue legal action by filing a lawsuit in court to obtain a judgment against the debtor. This judgment can then be enforced through various means, such as seizing assets or garnishing wages.

3. Can I negotiate a payment plan with a debtor instead of taking legal action?

Yes, creditors can negotiate payment plans with debtors to settle outstanding debts amicably. It is advisable to seek legal advice when entering into such agreements to ensure their enforceability.

4. What are the consequences of bankruptcy for a debtor in Malaysia?

Bankruptcy in Malaysia can have serious consequences for debtors, including the sale of their assets to repay debts, restrictions on obtaining credit, and limitations on certain activities like traveling abroad.

5. How long does it take to resolve a debt collection case in Malaysia?

The time taken to resolve a debt collection case in Malaysia varies depending on the complexity of the case, the cooperation of the parties involved, and the court's schedule. It is advisable to consult a lawyer for an accurate assessment of the timeline.

6. Can a creditor seize a debtor's property to recover a debt?

Yes, under certain circumstances, creditors in Malaysia can seize a debtor's property through court-issued writs like a writ of seizure and sale. However, there are legal procedures that must be followed to ensure compliance with the law.

7. Are there any limitations on the amount of interest that can be charged on outstanding debts in Malaysia?

Yes, the law in Malaysia imposes limits on the amount of interest that can be charged on outstanding debts, governed by the Moneylenders Act 1951 and other regulations. Creditors must adhere to these restrictions to avoid penalties.

8. Can a creditor take legal action against a company that fails to repay its debts?

Yes, creditors can take legal action against companies that fail to repay their debts by filing a lawsuit or initiating winding-up proceedings. It is important to consult a lawyer to understand the relevant legal procedures and requirements.

9. What are the alternatives to litigation for resolving creditor-debtor disputes in Malaysia?

Alternative dispute resolution methods such as mediation and arbitration can be used to resolve creditor-debtor disputes in Malaysia without resorting to litigation. These processes can be faster, cost-effective, and less adversarial than traditional court proceedings.

10. How can I verify if a debtor has sufficient assets to repay a debt before pursuing legal action?

Before pursuing legal action against a debtor, creditors can conduct asset searches, obtain credit reports, or engage professional investigators to verify the debtor's financial status and assess their ability to repay the debt. Legal advice can help determine the most appropriate course of action based on the findings.

Additional Resources

For more information and assistance on creditor-related matters in Malaysia, you can refer to the Companies Commission of Malaysia (SSM), the Insolvency Department of Malaysia, and the Malaysian Bar Council for guidance and support.

Next Steps

If you require legal assistance in creditor matters in Malaysia, it is recommended to consult a qualified lawyer who specializes in this area of law. They can provide tailored advice, represent your interests in negotiations and court proceedings, and help you navigate the complexities of creditor law to achieve a favorable outcome.

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 Creditor, 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.