We continue the Top 5 cases series with the top five restructuring & insolvency cases in Malaysia for the year 2020. You can also read the 2019 edition. This year’s cases range from restraining orders, judicial management and voluntary arrangement in bankruptcy. Continue reading
On 26 and 27 October 2020, I spoke at the two-day webinar organised by the Companies Commission of Malaysia Training Academy. I was joined by Norhaslinda Salleh of the Companies Commission of Malaysia, Khoo Poh Poh of Ernst & Young and Jimmy Ng of Chooi & Co + Cheang & Ariff.
We covered a range of restructuring and insolvency topics. There were some interesting facts shared as well. Continue reading
The High Court decision of Re Biaxis (M) Sdn Bhd [2020] MLJU 1188 (grounds of judgment dated 12 August 2020) set stringent requirements for a company to successfully apply for judicial management. These requirements may set an unnecessarily high bar for a distressed company to meet. Continue reading
On Thursday 23 July 2020 at 2.30pm, I will be moderating this webinar on restructuring and corporate rescue. The webinar is organised by PEMUDAH, Malaysia’s Special Task Force to Facilitate Business.
I will be joined by the speakers PohPoh Khoo of Ernst & Young and Kumar Kanagasingam of Lee Hishammuddin Allen & Gledhill .
We will cover strategy and insight from the perspective of an insolvency practitioner and legal practitioner. Companies can consider the options to restructure its debts, maintain a good financial position, and emerge stronger in the COVID-19 environment.
Registration is free and you can register here. Seats are limited.
The High Court in its grounds of judgment dated 10 June 2020 in Goldpage Assets Sdn Bhd v Unique Mix Sdn Bhd held that unsecured creditors can intervene in a judicial management application. The unsecured creditors’ views can then be heard in opposing the making of the judicial management order. This is an important decision clarifying this often argued point.
Qualified persons can now apply to be licensed as liquidators, or also known as insolvency practitioners, in Malaysia. This allows for the licence holder to take on appointments as: (i) liquidator; (ii) receiver or receiver and manager; (iii) judicial manager; and (iv) a nominee in a corporate voluntary arrangement.
The Accountant General of Malaysia recently issued its Guidelines for Qualification as Liquidator under the Companies Act 2016 (CA 2016) dated 21 January 2020 (only available in the Malay language). This now allows for qualified persons to apply for a liquidator licence under the CA 2016.
I write about the past qualification route for liquidators under the Companies Act 1965 (CA 1965) and this new qualification regime under the CA 2016. Continue reading
