The Singapore High Court decision in Re HTL International Holdings Pte Ltd [2021] SGHC 86 dealt with an unfair prejudice claim made against judicial managers. The decision confirms the high threshold to show the decision of the judicial managers was plainly wrong, unfair or perverse. This decision is very persuasive authority for Malaysia judicial management law. Continue reading
Scomi Group Bhd, listed on the Main Market of Bursa Malaysia, has applied for judicial management. This provides Scomi Group with a moratorium from legal proceedings and is part of its financial restructuring plan. This case also raises interesting legal issues. Continue reading
Starting from 1 April 2021, the threshold for the issuance of a winding up statutory demand is now fixed at RM50,000.00.
Through this gazette notice (GN No. 4159), the Minister has set this prescribed amount. This is consistent with the powers of the Minister under section 466(1)(a) of the Companies Act 2016 to prescribe the minimum amount of indebtedness for the issuance of a statutory demand for winding up.
The Edge Malaysia reported in its 29 March 2021 issue that fewer companies were wound up in 2020 compared with 2019. The article shared two interesting statistics they obtained from the Companies Commission of Malaysia. Continue reading
The Court of Appeal in its grounds of judgment dated 18 March 2021 in Sunrise Megaway Sdn Bhd (in liquidation) v Kathryn Ma Wai Fong set out the principles when there is a challenge on a liquidator’s decision to admit or reject a proof of debt. Exceptional circumstances are required to second guess the liquidator’s decision.
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On Tuesday 23 March 2021, I will be one of the co-speakers at the forum held in conjunction with the virtual book launch of CLJ’s Company Meetings, Minutes and Resolutions in Malaysia. Delighted to see the launch of this book written by Kenneth Foo Poh Khean and Leong Oi Wah.
The book covers essential requirements, rules and principles in company meetings, minutes and resolutions. This book provides two dimensions in the areas of meetings, minutes and resolutions from the legal perspective and the practical insights supported by examples, legal precedents and explanations.
You may register for the free Zoom session for the forum over here. The book is available for purchase over here.
