Tag Archives: Bankrupt

US Financial Tsunami

I could not believe myself when heard one of the largest insurance company in the world going to bankrupt. But Malaysia AIG and AIA had issued a statement that the Malaysia based company is still going strong.

fed help

AIG nearly declare bankrupt if not saved by FED. All these happened because they do not have enough capital to sustain. AIG has many different business groups around the world, if FED doesn’t help them, AIG bankrupt, the Investor & Customer will suffer and eventually will directly impact to FED also. People no money and can’t pay the tax; at that time will be serious economic crisis.

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Why Bankruptcy?

If someone who has officially declared that he cannot settle the amount that he owes then he will be considered as bankrupt. In Malaysia, the minimum amount of judgment debt amount to declare bankruptcy is MYR30, 000.

Bankrupt

There will have 6 months for you to make full settlement or negotiation after the bankruptcy notice is issued. If you did not response, you have committed an act of bankruptcy.

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