What specific activities would Najib be barred from if declared bankrupt?

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A Bankruptcy Declaration Would Prohibit Datuk Seri Najib Razak From Various Activities and Asset Control

If declared bankrupt, Datuk Seri Najib Razak would be barred from engaging in a range of activities and would lose control over his assets, which would then be managed by the director-general of insolvency. The specific nature of these prohibited activities has not been detailed in the provided context, but a bankruptcy declaration carries significant legal implications for an individual's public and private life.
Restrictions on Bankrupt Individuals

While the specific activities Najib would be barred from are not enumerated, general bankruptcy law in Malaysia imposes restrictions on individuals who have been declared bankrupt. These restrictions typically extend to holding public office, participating in political activities, and assuming directorships in companies. The exact scope of these prohibitions would depend on the specific provisions of Malaysian bankruptcy legislation.
Loss of Asset Control

A key consequence of a bankruptcy declaration is the forfeiture of an individual's control over their assets. All assets belonging to the bankrupt individual are transferred to the custody of the director-general of insolvency. This official then manages and liquidates these assets to settle outstanding debts owed to creditors.
Ongoing Legal Proceedings

The current discussion arises from an appeal against a bankruptcy action initiated by the Inland Revenue Board of Malaysia (LHDN). This action is related to an alleged RM1.69 billion in unpaid taxes for the period between 2011 and 2017. Najib is challenging the validity of these tax assessments and has argued that proceeding with the bankruptcy case would render his separate appeal before the Special Commissioners of Income Tax moot.
"Pay First, Talk Later" Principle

The LHDN's position is supported by a Federal Court ruling from October 2023, which affirmed the "pay first, talk later" principle. This legal doctrine dictates that taxpayers must settle their assessed tax liabilities, even if they have ongoing appeals or disputes with the tax authorities. The High Court had previously dismissed Najib's applications to stay bankruptcy proceedings, upholding this principle.

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What specific activities would Najib be barred from if declared bankrupt?

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