My colleagues and I are speaking at this free webinar open to the public. The seminar titled The Fraud Litigator’s Toolkit is on Wednesday 14 July 2021 from 3pm to 4.30pm.
You may register here.
Case Update: Mandatory for Bursa Malaysia to De-List a Wound Up Company
[Edit: The Federal Court, in its grounds of judgment dated 31 March 2022, has overturned this Court of Appeal decision. Bursa Malaysia does have discretion on the de-listing of a wound-up company.]
The Court of Appeal in Bursa Malaysia Securities Berhad v Mohd Afrizan bin Husain (grounds of judgment dated 2 July 2021) ruled that once a winding up order was made against a public listed company, Bursa Malaysia must de-list that company from the stock exchange.
The case dealt with interesting issues between the interplay of a liquidator’s role under the Companies Act and where the liquidated company is also subject to Bursa Malaysia’s Listing Requirement.
The Federal Court has granted leave to appeal against this Court of Appeal decision.
Barrister Chambers Takes Out Persons Unknown Injunction against Hackers
The barrister chambers of 4 New Square have obtained a persons unknown injunction against the unknown hackers who engaged in a cyber-attack on them on 12 June 2021. See this article from the UK Law Society Gazette.
It seems that these unknown hackers managed to hack into the computer system. It may be a case where data was stolen and the hackers are threatening to release the stolen data. Continue reading
Case Update: Singapore Court of Appeal Allows Retrospective Lifting of the Riddick Undertaking
Wong Li Qi writes a case update on a recent Singapore Court of Appeal decision granting retrospective leave for lifting of the Riddick undertaking.
The Singapore Court of Appeal in Ong Jane Rebecca v Lim Lie Hoa [2021] SGCA 63 clarified the legal framework on a Riddick undertaking and discussed the relevant considerations in whether to lift the undertaking. In light of the exceptional circumstances, the Court of Appeal had granted the appellant retrospective leave.
While this decision dealt with other facts, this case update focuses only on the key facts and issues on the Riddick undertaking.
Case Update: Company Cannot Suspend Its Directors
The High Court in Dato’ Shun Leong Kwong & Anor v Menang Corporation (M) Bhd & Ors [2021] MLJU 870 (grounds of judgment dated 21 May 2021) dealt with, among others, the issue of whether the company could suspend its directors. The Court also addressed issues relating to Board meetings and the requisition of the members’ meeting.
Malaysia’s Covid-19 Act: Contractual Reliefs Extended to 31 December 2021
The COVID-19 Act’s contractual relief provisions have been further extended from 30 June 2021 to 31 December 2021 (see PU(A) 287/2021). The COVID-19 Act’s full name is the Temporary Measures for Reducing the Impact of Coronavirus Disease 2019 (COVID-19) Act 2020. As explained below, we may see very little practical application of the contractual relief provisions. Continue reading