On 14 April 2025, The Edge Malaysia published our piece on why Malaysia should adopt the UNCITRAL Model Law on Cross-Border Insolvency. I reproduce the article below. Continue reading
From Tether to Trouble: Court Denies Mareva Relief in RM3 million Crypto Dispute
A RM3.2 million crypto dispute has landed in the Malaysian High Court, centering on Tether (USDT) and allegations of misappropriation.
The plaintiff sought a Mareva injunction to freeze assets, but the Court ruled there was not enough evidence of risk of dissipation of assets.
I write on the case of Sim Kwang Kai Adrian v Johnathon Wong Futt Po (see grounds of judgment dated 28 April 2025). Continue reading
Largest Law Firms in Malaysia 2024
This is the 7th edition of our annual Largest Law Firms in Malaysia series. We total the number of lawyers from the Malaysian Bar Legal Directory. This is as at 7 December 2024.
The law firms will include the numbers from their branch offices. For this year’s edition, we have also included a mention of the number of pupils at the firm.
Ex Parte Interim Judicial Manager Appointed Over Listed Company
Financially-distressed public listed company, Sarawak Cable Berhad, is placed under interim judicial management. Its former lawyers obtained an ex parte order to appoint an interim judicial manager over the company.
With the amendments to the Companies Act 2016, this is the first instance of a judicial management application being applied to a listed company.
I have had a read of the judicial management court papers and also read the various Bursa announcements to piece together the following chronology.
7 Uncertainties on Ultimate Effective Control of a Beneficial Owner
There is currently uncertainty on determining ultimate effective control in the context of a beneficial owner of a company.
Companies, directors and the beneficial owners of companies have until the extended deadline of 30 September 2024 to lodge accurate beneficial ownership information with the Companies Commission of Malaysia. I examine these uncertainties ahead of the lodgment deadline.
Firing Up and Cooling Off the Restraining Order in Schemes of Arrangement
The Companies (Amendment) Act 2024 came into force on 1 April 2024. With the amendments, we see a strengthening of the restructuring and corporate rescue laws of Malaysia.
Among the different corporate rescue tools, schemes of arrangement had already been the most-used mechanism in Malaysia. The scheme of arrangement allowed for the Court to grant moratorium protection known as the restraining order.
Here, I analyse the changes and challenges relating to the restraining order arising from the new amendments to the Companies Act 2016 (CA 2016).