Lee Shih and Lynn comment on the Federal Court proceedings involving points of law on judicial management
The Federal Court in the case of Million Westlink Sdn Bhd will now decide on an important area on judicial management law. Whether unsecured creditors can appear in an application for a judicial management order and oppose the making of the judicial management order. Leave to the Federal Court was granted on 4 January 2021. Continue reading
I read the news on the Companies Commission of Malaysia charging NWP Holdings Bhd for its failure to obtain shareholders’ approval for directors’ fees. This failure was for two financial years of 2017 and 2018. This charge relates to section 230 of the Companies Act 2016 (CA 2016), being a new provision requiring shareholders in a general meeting to approve the fees of the directors. Essentially, the shareholders having a say on the directors’ pay. This is the first reported prosecution involving this section. Continue reading
I wrote an article entitled ‘Persons Unknown: Asset Recovery against Unknown Fraudsters in a Time of Cyber Fraud‘ published in the Malaysian Institute of Accountants publication, Accountants Today.
My article covers the areas of:
1. Preventing Dissipation: Freezing and Proprietary Injunction
2. Unknown Fraudsters: Persons Unknown Jurisdiction
3. Cryptocurrency: Can the Courts Freeze and Trace Such Assets?
4. Money Trail: Bankers Trust and Third Party Disclosure Orders
5. You’ve Got Mail: Court Papers Served by Email, Dropbox and WhatsApp
You can access the article here on the Accountants Today website.
I will be delivering a webinar on Wednesday 10 February 2021 for the Companies Commission of Malaysia. It will be on Resolving Boardroom and Shareholders Disputes. I will also be incorporating the latest company law decisions.
The webinar will include the following topics: Continue reading
In Tan Keen Keong @ Tan Kean Keong v Tan Eng Hong Paper & Stationery Sdn Bhd & Ors and other appeals [2020] MLJU 2204 (grounds of judgment dated 17 December 2020), the Federal Court dealt with an important question of law for a just and equitable winding up.
What is the threshold for winding up a company based on allegations of illegality or breach of statute? Continue reading
The High Court in Re Rentak Arena Development Sdn Bhd (In Liquidation); Ex Parte Spanland Sdn Bhd and Another Case [2020] MLJU 2133 (see the grounds of judgment dated 18 November 2020) provided useful guidance on factors considered when there are competing nominees to be appointed as liquidator of a company.
