The High Court in Asiabio Capital Sdn Bhd v Seacera Group Bhd [2021] MLJU 2598 (grounds of judgment dated 3 November 2021) has emphasised the mandatory pre-conditions for the grant of a restraining order in a scheme of arrangement.
This short decision touches on the importance of showing that the proposed scheme of arrangement must involve more than half of the total debts of the debtor company.