Sep 27 2021, 06:51 AM
QUOTE(noone2 @ Sep 26 2021, 04:52 PM)
For those bankruptcy auction property in High Court and bank is plaintiff, do we need to deal with department of Insolvency / MDI / DGI?
I read that bank could be secured creditor who charged and auction the property, however MDI has the right to reverse transaction. So after the bid, either bank or successful bidder need to submit any document to MDI / get official release letter from MDI? Or nothing to do with MDI?
Also, can LHDN put caveat on the last day before auction date?
Mdi should be served with the documents regarding the auction date. They will be present during the auction process to monitor it for fairness.I read that bank could be secured creditor who charged and auction the property, however MDI has the right to reverse transaction. So after the bid, either bank or successful bidder need to submit any document to MDI / get official release letter from MDI? Or nothing to do with MDI?
Also, can LHDN put caveat on the last day before auction date?
May i know which state you are looking the matter on?
For Johor you can email to azura.shaikh@mdi.gov.my
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