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Home / Malaysia Bankruptcy Law / Business & Consumer Bankruptcy Law
Adjudication Order Receiving (AO/RO)
I REALLY NEED ADVISE!!

New MessageAdjudication Order Receiving (AO/RO) (modified 0 times) JOE 72
I did not turn up for a bankruptcy hearing & was told that RO is out on me. What does that actually means? What is the next action? Am I already a bankruptcy? Will my bank account be closed? I have a car fully paid car under my name, will that be taken away as well? I really do need advised. I feel like end of the world. HELPPPPP!!
05 Sep, 2012 13:07:31

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) vkpc
I did not turn up for a bankruptcy hearing & was told that RO is out on me. What does that actually means?
Yes, you are now officially a bankrupt.

Will my bank account be closed?
All your personal bank accounts will be closed within 3-6 months.
Joint Accounts may take a few years before they are closed.
Company accounts are not affected.

I have a car fully paid car under my name, will that be taken away as well?
If you report to JIM, the car may be sold if the value is over 10k.
If you don't report to JIM, you can use the car for a few more years.
If the value of the car is less than 5k, you will be allowed to keep it.

05 Sep, 2012 14:27:42

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) JOE 72
Can I sell of the car? Between 3-6 months can I still settle wt the bank? Is it true that JIM will call for interview on how much u need to pay? And if you default the agreed payment then only they will freez your account & pasport? pls advise
05 Sep, 2012 15:59:55

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) vkpc
Can I sell of the car? Depends on how fast JPJ's database is updated about your new status.
Between 3-6 months can I still settle wt the bank? No. Paying the bank now will be an offence.
Is it true that JIM will call for interview on how much u need to pay? And if you default the agreed payment then only they will freeze your account & pasport? pls advise
Passport and account will be frozen in very near future. Not related to interview or payment.
05 Sep, 2012 16:21:54

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) JOE 72
Lawyer that is handling this case was telling me that JIM is linean nowadays. If you default the agreed payment (interview) then only JIM will freez ur account & JIM only seez property n not car. Is it true? I am so puzzle. The car is the only transport I have. Do afvise.
05 Sep, 2012 17:00:19

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) vkpc
Don't believe what lawyers say.
05 Sep, 2012 19:05:44

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) JOE72
RO is already out on me but after checking with JIM, my name is not in the system. Can I still change ownershipn of my car? Can JIM still can traceback and seez the car eventho the ownership has change? Pls advise.
07 Sep, 2012 10:22:22

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) vkpc
RO is already out on me but after checking with JIM, my name is not in the system
I told you it would take 3-6 months.

Can I still change ownership of my car? Can JIM still can traceback and take the car eventho the ownership has change?
Sell to somebody you don't know.

07 Sep, 2012 10:54:12

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) guarantor
i did the same thing before, knowing that my lawyer fumble in his job when defending me. not only the cars.anything where yr name is in,GET OUT quickly.
07 Sep, 2012 12:57:36

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) Smiley
Bankruptcy is not end of your life! But please listen to vkpc advises. He is RIGHT!!! Get out all the belongings under your name before they take action. If your car's value above RM10K, quickly sell to somebody, otherwise they will take your car for their auction. Act fast and smart !! We all here almost went thru the problem that you are facing now.
08 Sep, 2012 10:45:38

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) JOE 72
I know that once RO is out Im officially a bankrupt but is there any way that I can revoke the order? Maybe thru the bank, JIM or the court? Can I still talk to the bank or any other way what so ever? Maybe come with some settlement. I really need advise coz its affecting my marriage & really dont want to end up wt a divorce. VKPC/anyone please advise me. Any other means?
11 Sep, 2012 11:35:03

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) guarantor
Joe,,take it easy. I hv been a bankrupt for 7 yrs. tough initially but once you're determined nothing can stop you. Let me give some words of encouragement. Yes yr marriage 'might' be affected but work thru proxy and yr wife will be 1st in yr proxy list.I think she will be happy. Many bankrupts have done it and i believe you can too. I m ok being a bankrupt coz i can do whatever others can. the only problem is when you want go abroad. Infact i just came back from JIM and challenging of their system of leaving the country. Until today JIM cannot give me an answer.
11 Sep, 2012 12:51:41

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) William
Hi VKPC,

You said company accounts not affected.

Are you refer to limited company or sole proprietor.

I am a minority shareholder of a limited company. However, that company do not have ATM card. Thus, I never close my account of sole proprietor but just to transfer money from limited company and withdraw money using ATM of sole proprietor. It just act as a petty cash for limited company. Will that account be closed?

25 Mar, 2013 20:45:51

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) vkpc
Will that account be closed?
Most likely no.
31 Mar, 2013 07:52:12

New MessageRE:Adjudication Order Receiving (AO/RO) (modified 0 times) William
Hi vkpc,

Thank you for your reply.

Bank already do a bankrupcy search on me when I open my bank accountof my sole proprietor. I am not aware that ctos already blacklisted by by stating that a RO has been issued to me since 2003. The bank never told me their result of their search but allowed me to open a bank account for my sole proprietorship. But when I change my sole proprietorship to limited company. The same bank refuse to allowed my limited compnay to open a bank account until I resign as a director and transfer majority of my company share. I still not aware what ctos and crris stated on me until I received letter from JIM recently in 2013 and I do a ctos search and ccris search on myself. It llok like you are correct that as bank already know an RO has been serve on me but I am not aware when I open my sole proprietorship account.

However, It seem I have to report to JIM that I operate a sole Proprietorship and need an approval letter from JIM for me to continue to operate a sole proprietorship and that account.

31 Mar, 2013 14:36:45


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