Cross-Border Insolvency Act 2026 · Updated to 30 Jan 2026 · Part III · Recognition of Foreign Proceedings and Relief
22. Protection of creditors and other interested persons
Feedback & supportIn granting or refusing any relief under section 19
or 21, or in modifying or terminating any relief under subsection (3)
or subsection 20(6), the Court shall be satisfied that the interests of the creditor, including the creditor in Malaysia, any secured creditor or party to a hire-purchase agreement, and any other interested person, including the debtor where appropriate, are adequately protected.
The Court may impose such conditions on the grant of relief under section 19 or 21 as the Court deems appropriate, including requiring the foreign representative to furnish security for the due performance of his functions.
foreign representative
“foreign representative” means a person or body appointed, including a person or body appointed on an interim basis, and authorized in foreign proceedings to administer the reorganization or liquidation of a debtor’s property or affairs or to act as a representative of the foreign proceedings.
The Court may, on the application of the foreign representative or any person affected by the relief granted under section 19
or 21, or on its own motion, modify or terminate the relief.