Debt Recoveries 债务追讨/诉控
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| We provide legal advices and litigation services in relation to debt recoveries and execution of judgement. We assist your credit control department to maximise the repayment and to reduce your debtor days. |
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Debt Recoveries Procedures 法律程序
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| Prior to commencement of action to recover the debt, a simple background searches against debtor will be conducted. The searched include official company searches, individual address searched, physical inspection, insolvency search, credit search to access whether economical to proceed. |
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1. Issuing Letter of Demand 律师信
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- A formal letter of demand enclosing latest statement of outstanding amounts will be issued to debtors by Registered Post within one working day upon receipt of instruction.
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- Telephone calls to urge settlement of outstanding amount.
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2. Negotiation 代表客户与债务人商讨
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| If the debtor is desirous to settle the debt, we shall negotiate the amount and method of settlement on behalf of the creditor. |
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3. Court Action 法庭程序 / 传召债务人
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| In the event negotiation did not end in the favourable way, we will advise creditor to initiate court action. ( Writ Summon, Originating Summon, etc) |
| Writ summon will be filed within three working days upon receipt of instruction to proceed. |
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4. Judgement 法庭判决
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| If the debtor fails to enter appearance or make payment within 14 days from the date summon being served, judgement will be filed against the debtor. A copy of judgement will be served to the debtor. |
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5. Summary Judgement
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| If the debtor enters appearance and files defence, we will proceed with summary judgement for prompt and expeditious disposition of case. |
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Execution 执行法庭庭令
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| In the event the debtor still refuse/failed to settle the judgement sum, further action will be taken to enforce the judgement. If the debtor has property (movable or immovable) within Malaysia, we can attach the properties in several ways. (Seizure and Sale, Prohibitory Order, Garnishee Proceeding,etc ) |
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| Another common way to compel debtor to settle is by way of bankruptcy proceedings and Winding up proceeding. |
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| Writ of seizure and sale to commands the Sheriff to seize and sell the property of judgement debtor to such extent as is necessary to satisfy the judgement sum. |
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| If the property seized consists of immovable property, then seizure made by order prohibiting the judgement debtor from transferring, charging or leasing such property. |
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| A writ of delivery to commands the sheriff to seize and deliver the property or value of the property to the judgement creditor. |
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Bankruptcy (Individual) 破产申请
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| Under the new Insolvency Act 1967, the threshold for commencement of bankruptcy proceeding is now RM50,000.00. The new Act will also have important implications especially to financial institutions where loans are secured by personal guarantees. |
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Winding Up (Company) 公司清盘
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| Petition for Winding Up on corporate debtor under the Companies Act 2016 |
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