The bankruptcy dilemma

By Kalsum Mohammadin KUCHING: Bankruptcy often causes phobia especially among young people who fear losing their self-esteem because of their lack of financial standing or status. A bankrupt person may suffer from stress and will not be able to manage his/her finances wisely. According to Bank Negara Malaysia’s (BNM) data in December 2019, as many […]

Public welcome amendment

INSOLVENCY ACT 1967 MIRI: Most members of the public here welcome the decision by the federal government to table an amendment to the Insolvency Act 1967 in the current Dewan Rakyat meeting. Minister in the Prime Minister’s Department (Parliament and Law) Datuk Takiyuddin Hassan revealed the federal government’s plan during Oral Question Time in Dewan […]

US retailer JC Penney files for bankruptcy due to pandemic

HOUSTON: US retail giant JC Penney filed for bankruptcy on Friday due to the impact of Covid-19, China’s Xinhua news agency reported. The company said in a statement that it had entered into a restructuring support agreement with lenders that hold around 70 per cent of its first lien debt “to reduce the company’s outstanding […]