DISCHARGED BANKRUPT MEANS SOMEONE SUCH AS A BUSINESSMAN OR BUSINESSWOMAN WHO HAS NOT BEEN ABLE TO PAY MONEY THAT THEY OWE, BUT WHO IS OFFICIALLY ALLOWED TO HAVE A BUSINESS AGAIN.
THE LAW IS SUPREME AND EVERYONE IS EQUAL BEFORE THE LAW AND ACCOUNTABLE FOR THEIR ACTIONS.
BUT IN MALAYSIA THERE ARE TWO LAWS. FEDERAL CONSTITUTION AND SYARIAH LAW.
TAKE INSOLVENCY FOR EXAMPLE.
IF A TAN SRI OR DATUK OR MB IS MAKE A BANKRUPT, THE DEBTOR CAN CONTINUE TO BE DIRECTOR AND OWNER OF THE COMPANY AND HAVE ASSETS IN NAME WORTH MILLIONS. IF THE DEBTOR IS AN MB, HE IS ALSO FREE TO HOLD ONTO THE POST. THIS IS BECAUSE IN THE FIRST CASE THE DEBTOR HAS A TITLE SO BAGI CHANCE LAH. THE SECOND BEING A MALAY AND A MENTERI BESAR ONE CAN LAH BECAUSE HE IS THE LAW.
NOW IN THE CASE OF, IF THE CREDITOR IS DEAD. THERE ARE TWO SCENARIOS. ONE IF THE CREDITOR IS MALAY/MUSLIM. THE DEBTOR GOT TO SERVICE THE WARIS. BUT IF THE CREDITOR IS NON MUSLIM, THEN THE DEBTOR IS AUTOMATICALLY DISCHARGE FROM BANKRUPTCY.
ANOTHER WEAKNESS TO THIS SYSTEM IS INSOLVENCY WILL NOT BE ABLE TO TELL WHEN THE CREDITORS DIE. SO THE DEBTORS CONTINUE TO PAY TILL DEATH.
SO HOW MANY PEOPLE ARE ALERT TO THE CREDITORS DEATH? WHY IS THERE NO SYSTEM THAT COULD UPDATE ITS DATA FOR ALL GOVERNMENT DEPARTMENT TO ALLOW FREE AND EASY ACCESS TO THE PUBLIC?
SO WHAT HAPPENS TO THE MONEY COLLECTED FOR THE DEAD?
TUN'S SON IS A BANKRUPT BUT HE IS STILL DIRECTOR OF 24 COMPANIES AND RECEIVE MILLIONS IN SALARY AND ALLOWANCES. HE HAS 54 PROPERTIES IN HIS NAME, 2 PLANE, A HELICOPTER, 8 EXPENSIVE CARS AND TRAVELS ROUND THE WORLD YEARLY. HE IS ALSO TRUSTEE IN THE FOUNDATION. HE IS MALAY AND THE CREDITORS ARE CHINESE SO HE IS FREE.
A CHINESE WOMAN WAS BANKRUPT FOR 20 YEARS, CANNOT WORK, CANNOT OWN ASSETS IN NAME, CANNOT TRAVEL OVERSEAS ETC. THE DEBTOR CANNOT SEEK JUSTICE IN COURT OR PUTRAJAYA BECAUSE THE JUDGE WHO HEARD THE CASE REFUSED TO WRITE THE JUDGEMENT. SO APPEAL CANNOT BE HEARD.THE CREDITOR IS MALAY BUT IS NOW DEAD. BUT THE DEBTOR MUST CONTINUE TO PAY MONTHLY TO THE WARIS. ACCORDING TO INSOLVENCY DEPARTMENT THE CREDITOR IS MALAY/MUSLIM SO PAYMENT MUST CONTINUE TO BENEFIT THE WARIS
WILL ANWAR IBRAHIM CONTINUE TO OPEN HIS MOUTH WITHOUT THINKING OR WILL HE DO SOMETHING WITH WHAT IS HAPPENING INSIDE INSOLVENCY?
He said bankrupts whose outstanding debts total under RM50,000 will be released from bankrupt status immediately as of March 1, subject to conditions. Anwar said the government estimated that 130,000 people would be freed from bankruptcy status when the amendments are passed.24 Feb 2023
NON MUSLIM FACES FEDERAL CONSTITUTION ONLY.
MALAY FACES FEDERAL CONSTITUTION AND SYARIAH LAW.
BUT IF YOU GOT CONNECTION THEN LEPAS LAH...........................................