The Court of Appeal in Likas Bay Precinct Sdn Bhd v Bina Puri Sdn Bhd [2019] MLJU 49 has decided that a petitioner can issue a statutory demand for winding up based on a mere adjudication decision. There is no requirement to first enforce the adjudication decision as a court judgment before issuing such a winding up notice.
The Court of Appeal in the Wellcom Communications case has decided on certain significant issues relating to a judicial management application (see the grounds of judgment dated 13 February 2019). This is Malaysia’s first appellate decision relating to judicial management.
In summary, upon the filing of a judicial management application, an automatic moratorium applies. This will stay all legal proceedings from continuing or from being commenced against the applicant company. The Court of Appeal has held that once the judicial management application is dismissed, there cannot be a grant of any stay order to stay the dismissal of the application in order to revive the moratorium effect. Continue reading
On Thursday 28 March, I will be speaking at the Malaysian Bar seminar titled ‘Claims Involving Companies and Misdirected Funds or Opportunities‘. This seminar is open to members of the Bar as well as members of the public. You can click on the registration form over here.
The seminar focuses on issues relating to claims involving companies and misdirected funds or opportunities. The speakers will combine their academic and practical perspectives and how to frame the appropriate causes of action in both common law and equity. Continue reading
In a speech delivered on 10 December 2018, the Prime Minister of Malaysia announced that the corporate liability amendments to the MACC Act will be brought into force on 1 June 2020.
Further, I had earlier written about the important defence of adequate procedures. It is a defence for an organisation to show it had adequate procedures in place to prevent such associated persons from carrying out the corrupt conduct.
The Prime Minister’s Department has also now issued the Guidelines on Adequate Procedures pursuant to section 17A(5) of the MACC Act. The guidelines (in the Malay and English version) can also be download from the Governance, Integrity and Anti-Corruption Centre (GIACC) website. Continue reading
The Federal Court in grounds of judgment dated 22 November 2018 in the SKS Foam decision confirmed the Court’s jurisdiction to set aside a perfected winding up Order in certain limited instances.
The Court is able to exercise its jurisdiction under the Federal Court case of Badiaddin to set aside its own Order where the defect is of such a serious nature that there is a need to set aside the Order in the interests of justice. Continue reading
The Companies Commission of Malaysia (SSM) has made an important announcement that the Companies Act 2016 [Act 777] has been reprinted as at 1 November 2018 with certain minor revisions. These typographical revisions were made under the powers of the Revision of Laws Act 1968.
The reprinted Companies Act 2016 (as at 1 November 2018) can be found on the SSM website here. Continue reading
