Chapter 10 - DGI's Duties, Rights & Powers Flashcards
1
Q
DGI’S DUTIES, RIGHTS & POWERS
Overview
A
1) General functions
2) Disclaim onerous property
3) Administration of deceased’s insolvent estate
2
Q
DGI’S DUTIES, RIGHTS & POWERS
General functions
A
- To supervise and monitor management of 21 state branches;
- To issue first notification of bankruptcy to relevant agencies;
- To administer and conduct initial investigates towards the bankrupt based on the statutory form filed by bankrupt;
- To act as a Manager and Receiver for the estate of the bankrupt;
- To summon and conduct the First Meeting of Creditors and General Meeting of Creditors;
- To realize the bankrupt’s assets and properties for the interest of creditors who filed Proof of Debt;
- To examine, admit or reject partly or wholly the Proof of Debt;
- To declare and distribute dividend to the creditors;
- To process and consider the application and appeals of bankrupt under relevant provisions of Act 360;
- To consider the application of bankrupt using powers and discretion on such matters;
- To ensure bankrupt fulfil the terms and conditions imposed under Act 360;
- To report the conduct of bankrupt when the court directs;
- To investigate through Public Examination of the bankrupt; and
- To take part and give assistance as directed by the Public Prosecutor in relation to the prosecution of any fraudulent bankrupt or any other person charged under Act 360.
3
Q
DGI’S DUTIES, RIGHTS & POWERS
Power to disclaim onerous property - the law
A
S.59
4
Q
DGI’S DUTIES, RIGHTS & POWERS
Power to disclaim onerous property - application - tenancy
A
Re Karuppiah:
- The DGI disclaimed the tenancy;
- The landlord’s application for vacant possession was allowed;
- The bankrupt’s wife & children had to give the vacant possession to the landlord.
5
Q
DGI’S DUTIES, RIGHTS & POWERS
Power to administer deceased’s insolvent estate - the law
A
S.122
Re Badan Pengurusan Bersama Kondominium Lagenda (2017, FC)
