Malaysia will examine corporate rescue and business rehabilitation mechanisms, drawing on the US Chapter 11 framework, as part of insolvency reform.
KUALA LUMPUR: Malaysia will examine corporate rescue and business rehabilitation mechanisms, drawing lessons from the United States’ Chapter 11 framework, as the next frontier of its insolvency reform agenda, said Datuk Seri Azalina Othman Said.
The Minister in the Prime Minister’s Department (Law and Institutional Reform) said premature liquidation often destroys jobs, disrupts supply chains and eliminates economic value that could otherwise be salvaged through debt restructuring.
“A company that cannot pay its debts today is not necessarily a company without an economic future.
