Friday 12 October 2012

BANKRUPTCY: LABUAN MP GIVEN TILL NOV 7





KOTA KINABALU: The Labuan High Court has allowed the island's Member of Parliament Datuk Yussuf Mahal until Nov. 7 to rescind a bankruptcy order made against him.

It was understood that Yussuf, who was not present in court, had appealed for sufficient time in order to source the RM16 million needed to repay a loan to Sabah Development Bank.

It was not known whether Yusuff was away in Kuala Lumpur attending the current debate on the budget proposals in Parliament.

However, as a bankrupt he is barred from discharging his duties as a MP unless the loan had been fully paid up and he receives clearance from the Insolvency department.

Parliament Speaker Tan Sri Pandikar Amin had said he would decide on Yussuf's status once he receives confirmation, but so far has kept silent.

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