Cover Image

Debts relief order and administration order for debtors in the United Kingdom: what Malaysian can learn?

Debtor’s pre-rehabilitation is a measure given to a debtor in order to avoid bankruptcy once he failed to fulfil his financial commitment with his creditors. The pre-rehabilitation schemes can be obtained through court or out of court’s settlement. The most common type of pre-rehabilitation that cou...

Full description

Saved in:
Bibliographic Details
Main Authors: Azmi, Ruzita, Abd Razak, Adilah, Ahmad, Siti Nur Samawati
Format: Article
Language:English
Published: OMJP Alpha Publishing 2018
Subjects:
HF5601 Accounting
Online Access:http://repo.uum.edu.my/26931/1/IPJAS%202%203%202018%2035%2043.pdf
http://repo.uum.edu.my/26931/
http://ipjaf.omjpalpha.com/index.php/ipjaf/article/view/60
Tags: Add Tag
No Tags, Be the first to tag this record!
id my.uum.repo.26931
record_format eprints
spelling my.uum.repo.269312020-03-19T06:46:27Z http://repo.uum.edu.my/26931/ Debts relief order and administration order for debtors in the United Kingdom: what Malaysian can learn? Azmi, Ruzita Abd Razak, Adilah Ahmad, Siti Nur Samawati HF5601 Accounting Debtor’s pre-rehabilitation is a measure given to a debtor in order to avoid bankruptcy once he failed to fulfil his financial commitment with his creditors. The pre-rehabilitation schemes can be obtained through court or out of court’s settlement. The most common type of pre-rehabilitation that court based in the United Kingdom (UK) is Individual Voluntary Arrangement (IVA), which usually applicable to debtors with a large number of debts. Meanwhile, for a debtor with a smaller amount of debts, and disqualified from IVA, may resort to Debts Relief Order (DRO) and Administration Order (AO). On the other hand, Malaysian debtors may only resort to Voluntary Arrangement (VA) modelled after the IVA practised in the UK to avoid bankruptcy. Considering the importance to give more options for pre- rehabilitation schemes for Malaysian debtors, this paper examines the provisions on DRO and AO in the UK. The authors collected primary and secondary data from judicial decisions, textbooks, reports and articles from both law and non-law journals. This paper concludes by showing that if Malaysia emulates the UK and introduces DRO and AO, debtors in Malaysia will have two more bankruptcy pre-rehabilitation to complement the VA. OMJP Alpha Publishing 2018 Article PeerReviewed application/pdf en http://repo.uum.edu.my/26931/1/IPJAS%202%203%202018%2035%2043.pdf Azmi, Ruzita and Abd Razak, Adilah and Ahmad, Siti Nur Samawati (2018) Debts relief order and administration order for debtors in the United Kingdom: what Malaysian can learn? Indian-Pacific Journal of Accounting and Finance (IPJAF), 2 (3). pp. 35-43. ISSN 2600-9161 http://ipjaf.omjpalpha.com/index.php/ipjaf/article/view/60
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutional Repository
url_provider http://repo.uum.edu.my/
language English
topic HF5601 Accounting
spellingShingle HF5601 Accounting
Azmi, Ruzita
Abd Razak, Adilah
Ahmad, Siti Nur Samawati
Debts relief order and administration order for debtors in the United Kingdom: what Malaysian can learn?
description Debtor’s pre-rehabilitation is a measure given to a debtor in order to avoid bankruptcy once he failed to fulfil his financial commitment with his creditors. The pre-rehabilitation schemes can be obtained through court or out of court’s settlement. The most common type of pre-rehabilitation that court based in the United Kingdom (UK) is Individual Voluntary Arrangement (IVA), which usually applicable to debtors with a large number of debts. Meanwhile, for a debtor with a smaller amount of debts, and disqualified from IVA, may resort to Debts Relief Order (DRO) and Administration Order (AO). On the other hand, Malaysian debtors may only resort to Voluntary Arrangement (VA) modelled after the IVA practised in the UK to avoid bankruptcy. Considering the importance to give more options for pre- rehabilitation schemes for Malaysian debtors, this paper examines the provisions on DRO and AO in the UK. The authors collected primary and secondary data from judicial decisions, textbooks, reports and articles from both law and non-law journals. This paper concludes by showing that if Malaysia emulates the UK and introduces DRO and AO, debtors in Malaysia will have two more bankruptcy pre-rehabilitation to complement the VA.
format Article
author Azmi, Ruzita
Abd Razak, Adilah
Ahmad, Siti Nur Samawati
author_facet Azmi, Ruzita
Abd Razak, Adilah
Ahmad, Siti Nur Samawati
author_sort Azmi, Ruzita
title Debts relief order and administration order for debtors in the United Kingdom: what Malaysian can learn?
title_short Debts relief order and administration order for debtors in the United Kingdom: what Malaysian can learn?
title_full Debts relief order and administration order for debtors in the United Kingdom: what Malaysian can learn?
title_fullStr Debts relief order and administration order for debtors in the United Kingdom: what Malaysian can learn?
title_full_unstemmed Debts relief order and administration order for debtors in the United Kingdom: what Malaysian can learn?
title_sort debts relief order and administration order for debtors in the united kingdom: what malaysian can learn?
publisher OMJP Alpha Publishing
publishDate 2018
url http://repo.uum.edu.my/26931/1/IPJAS%202%203%202018%2035%2043.pdf
http://repo.uum.edu.my/26931/
http://ipjaf.omjpalpha.com/index.php/ipjaf/article/view/60
_version_ 1662757796471373824
score 13.211869

Similar Items