Kulim Bandar Baru MP declared bankrupt

PETALING JAYA: Kulim Bandar Baru MP Datuk Abdul Aziz Sheikh Fadzir was declared bankrupt by the Kuala Lumpur High Court after he failed to settle his bank loan.

This may lead to Abdul Aziz losing his MP’s seat but the situation can be avoided if Abdul Aziz settles the outstanding balance to the bank in order to dismiss the notice of bankruptcy.

The notice was advertised on Wednesday in several newspapers by the law firm Messrs Shaikh David Raj which represents Alliance Investment Bank Berhad.

According to the notice, the application to declare Abdul Aziz as a bankrupt was filed at the Kuala Lumpur High Court on March 25.

The court allowed the application on May 29.

Abdul Aziz confirmed to mStar Online about the notice, saying that the outstanding balance was owed to the bank by a company belonging to a family member.

He, however, declined to reveal the amount involved.

“It is true that the notice was issued against me. This is regarding a loan for a company run by my family. I haven’t been in the company since 2007.

“The company still belongs to my family member and has links to me. I will settle it as soon as possible. A meeting with the bank will be held soon,” he said when contacted yesterday.

Abdul Aziz said he did not realise there was an outstanding balance and only came to know about the notice of bankruptcy on Wednesday.

“I wasn’t aware of it.

“On Wednesday night I received many SMSes and information about this. Only this morning (yesterday) I checked with the bank,” he added.