In response to COVID-19, the UK has fast-tracked its Corporate Insolvency and Governance Bill (the PDF copy of the Bill is here and with helpful Explanatory Notes). The overarching objective of this Bill is to provide businesses with the breathing space they need to continue trading during this difficult time and to avoid insolvency. I set out seven of the key measures that UK is introducing and the possible reforms that Malaysia can adopt.
Malaysia’s corporate liability provision in section 17A of the Malaysian Anti-Corruption Commission Act 2009 (MACC Act) has been gazetted and will be in force on 1 June 2020. The gazette notice is found here. It is now critical for commercial organisations to have adequate procedures in place.
I have been invited to speak on a Malaysian Institute of Chartered Secretaries and Administrators (MAICSA) webinar on Rescue Options for Companies in Distress. It is on Wednesday 20 May 2020 from 10am to 12pm. My co-speaker is Ms Khoo Poh Poh from EY. MAICSA members pay RM60 while non-members pay RM90. The registration form is here.
Description of the talk: With the rise of COVID-19 and the aftermath of the Movement Control Order, companies are facing uncertainties in handling the challenges that lies ahead. The International Monetary Fund warned that the world faces its worst recession since the Great Depression of the 1930s. It is therefore critical to understand the rescue options available and the risks for business owners when taking on increasing debt when continuing to operate.
Learn the practical considerations when assessing rescue options, cashflow considerations and working out a restructuring proposal. This webinar will also cover the recent temporary changes to the winding up laws.
I set out my thoughts on how to modify existing hearings for a pupil to be Called to the Bar in Malaysia. This is during a time of movement control, social distancing and the Courts being cautious in allowing the number of people into the court rooms. I present three options. The first being a dramatically scaled down Call to the Bar ceremony. The second being a remote Skype hearing . The third, and least preferable, is to grant the Order for admission in the absence of everyone.
I have been invited to speak as part of the Malaysian Institute of Accountants webinar series. My session is on Thursday 14 May 2020, 10.30am to 11.30am. It is titled ‘Red Alert: Directors’ Responsibilities in the Zone of Insolvency’.
I will cover the follow areas:
- Directors’ duties when a company approaches insolvency.
- The risk of insolvent and fraudulent trading.
- The need to consider restructuring and winding up options.
- Pros and cons of each option.
This is a free webinar but prior registration is required. Please email: [email protected] to register.
I spoke at this webinar on The Recipe for Writing a Legal Article on Saturday 9 May 2020 from 3pm to 4pm. This was streamed live on the KL Bar Young Lawyers Committee Facebook page. I joined Dee Wei and Lavinia, both experienced advocates and prolific writers. I have edited this post and set out below 18 tips. Most of these tips were covered in the session itself, and I also included extra material.