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Public Must Change Perception About Insolvency Dept

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MELAKA – The public must change their perception about the Insolvency Department being an agency responsible for pushing individuals, companies or organisations to be declared bankrupt.

Minister in the Prime Minister’s Department Nancy Shukri said the department actually played an important role in assisting the parties concerned to get out of bankruptcy while helping lenders to recover their investments.

“On the contrary, the Insolvency Department is not a ‘bad person’. So the community need not be afraid of it. Actually its doors are always open to assist those who had been declared bankrupt.

“On the other hand, the department’s officers must also play their role in changing the perception of the public, by being approacheable, knowledgeable and courteous attitude towards those who seek their help,” she said here last night.

She said this at a ‘dinner and dialogue’, in conjunction with the three-day Insolvency Conference 2014 here, attended by about 300 of the department’s officers nationwide.

Nancy also launched a handbook on bankruptcy at the function.

Meanwhile, she disclosed that the department was conducting a study to see whether there was a need to introduce a new law on bankruptcy.

“The process is not easy because it involves indepth research, to ensure that it would represent all parties,” she said. – BERNAMA

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