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Law of Insolvency Exam 2021

This document is an exam paper for a Law of Insolvency course. It provides instructions for students taking the exam, noting allowable materials and timing. The sole exam question describes a legal dispute involving a bankruptcy notice and creditor's petition served by Mr. A against Ms. B. Students are asked to evaluate various aspects of the case, including whether Ms. B can challenge the bankruptcy notice amount, if an act of bankruptcy was committed and when, if Ms. B can oppose the creditor's petition, the correct procedure for opposing it, and the difference between challenging and showing cause against a petition.

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Hairi Zairi
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400 views2 pages

Law of Insolvency Exam 2021

This document is an exam paper for a Law of Insolvency course. It provides instructions for students taking the exam, noting allowable materials and timing. The sole exam question describes a legal dispute involving a bankruptcy notice and creditor's petition served by Mr. A against Ms. B. Students are asked to evaluate various aspects of the case, including whether Ms. B can challenge the bankruptcy notice amount, if an act of bankruptcy was committed and when, if Ms. B can oppose the creditor's petition, the correct procedure for opposing it, and the difference between challenging and showing cause against a petition.

Uploaded by

Hairi Zairi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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STUDENT IDENTIFICATION NO

NAME:………………………………………

No. on Attendance List ………………………

MULTIMEDIA UNIVERSITY
SECOND TRIMESTER MID TERM EXAMINATION, 2020/2021 SESSION
(Mid Term Examination)

UIS4612 LAW OF INSOLVENCY (All section / Groups)

8th January 2021 (Friday)

3.00 p.m. - 3.15 p.m.


(Reading Time)

3.15 p.m. - 4.00 p.m.


(Answering Time)

INSTRUCTIONS TO STUDENTS

1. This Question paper consists of 2 pages (including the cover page) with 1 Question only.

2. This paper carries 20 marks and it will be adjusted to a total of 10 marks only. The
distribution of the marks for each question is given.

3. Please write all your answers in the Answer Booklet provided. Your answers must be based
on the decided cases and relevant statutes.

4. Students are only allowed to bring in CLEAN AND ORIGINAL COPIES of (i) Insolvency
Act 1967; (ii) Insolvency Rules 2017; (iii) Insolvency Voluntary Arrangement Rules 2017;
and (iv) Rules of Court 2012 into the exam venue. “Clean” is defined to include no tagging,
no annotation either by the publisher or anyone else, and no erased marking. Highlighting
and underlining are also prohibited.

WHS
UIS4612 LAW OF INSOLVENCY 8 January 2021

ANSWER ALL THE QUESTION(S)

QUESTION 1

On 1.7.2019, Mr. A obtained judgement against Ms. B in the Sessions Court for a sum of
RM250,000-00 with interest at 5% per annum from date of judgement to date of realisation and
costs RM1,500-00.

On 1.9.2019, Thursday at 4.00 p.m., Mr. A served a bankruptcy notice on Mr. B demanded a
sum of RM300,000-00 comprising the principal sum of RM250,000-00, interest of RM48,500-00
calculated at the rate of 8% per annum from the date of judgement to date of realisation and costs
of RM1,500-00. Mr. B ignored the bankruptcy notice which was personally served on him.

On 11.9.2019, Mr. A filed and served a creditor’s petition together with an affidavit verifying the
petition on Ms. B. Mr. A’s creditor’s petition was dated 11.9.2019 while the affidavit verifying
the petition was affirmed on 10.9.2019. Ms. B on receiving the creditor’s petition paid Mr. A the
judgment sum in instalments leaving a balance sum of RM40,000-00.

The creditor’s petition is fixed for hearing next month. Ms. B intends to file an affidavit to
oppose the creditor’s petition.

Evaluate the following:

(i) whether Ms. B can challenge the excessive amount in the bankruptcy notice at this stage?

(ii) whether Ms. B has committed an act of bankruptcy, if so when?

(iii) whether Ms. B can oppose the creditor’s petition?

(iv) whether Ms. B’s procedure to oppose the creditor’s petition is correct?

(v) the difference between ‘to challenge a petition’ and ‘to show cause against a petition’.

(4 marks each x 5)

(Total: 20 marks)

End of Page

WHS Page 1 of 1

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