The High Court in the judicial management application of Re Scomi Group Bhddecided that public listed companies cannot apply for judicial management. Hence, Scomi Group Bhd’s judicial management application was dismissed.
I have only had sight of the brief grounds of decision and will only make some short points below. I may write a more detailed case update if the full grounds of judgment are issued.
In the matter involving Macro Resources Sdn Bhd, the Shah Alam High Court has set aside the extensions of the judicial management order made beyond the period of the initial 12 months. This decision appears to confirm that a judicial management order in Malaysia can only be made for the initial 6 months and with a single extension of 6 months only (i.e. a maximum period of 12 months).
The High Court in Safari Alliance Sdn Bhd v Tan Lee Chin and others (grounds of judgment dated 25 August 2021) dealt with how a shareholder cannot maintain an oppression action against rulings made by the Chairperson at a general meeting. Such rulings do not amount to “affairs of the company” for oppression.
The High Court in the Eka Noodles Berhad v Norhayati binti Tukiman (grounds of judgment dated 21 August 2021) decided that a single member of the company can put in the request for the directors to hold a company general meeting.
Lee Shih and Peyton Teo complete this three-part series on key trends in judicial management in Malaysia.
We complete the final part on the trilogy on trends in judicial management (JM) cases in Malaysia. This article covers the making of the JM Order, the opposition to the judicial manager candidate, and issues post the JM Order.