PUTRAJAYA: The Insolvency Department has released 142,510 individuals from bankruptcy under the Second Chance Policy introduced in October last year, says Prime Minister Datuk Seri Anwar Ibrahim.

“For these 140,000 individuals, companies and families who were stuck in a lurch not knowing their future, this will definitely help them and also assist in driving growth,” said Anwar.

He said this during the 100th anniversary celebration of the Insolvency Department at Putrajaya on Thursday (July 25)

Anwar credited the Insolvency Department and the increase of the minimum debt threshold to RM100,000 from RM50,000.

He also said this is an unprecedented success for the Insolvency Department and Putrajaya.

“People always get anxious when they assume that the government is doing nothing, This is not true. From 1957 to now, there is no government that has been able to solve over 142,000 bankruptcy cases," said Anwar. 

https://www.thestar.com.my/news/nation/2024/07/25/over-142000-individuals-released-from-bankruptcy-under-second-chance-policy-says-pm