Today, the Court of Appeal dismissed Scomi Group Bhd’s appeal against the High Court decision dismissing its judicial management application.
As set out earlier, the High Court had ruled on two points when dismissing the judicial management application of Scomi Group Bhd, being a listed company. Continue reading
Our guest writer, Nathalie Ker, writes on the top 5 restructuring and insolvency cases in 2021.
We continue the Top 5 cases series with the top five restructuring and insolvency cases in Malaysia for the year 2021. You can also read last year’s 2020 edition.
This year’s cases cover schemes of arrangement, judicial management and winding up.
On 16 December 2021, Scomi Group Berhad (Scomi) made a stock exchange announcement that the Court of Appeal granted an interim preservation order to prevent legal proceedings against Scomi. In effect, Scomi seems to have obtained a moratorium against all legal proceedings despite the dismissal of its earlier judicial management application. There are some interesting issues that arise from this development. Continue reading
The High Court in the judicial management application of Re Scomi Group Bhd decided that public listed companies cannot apply for judicial management. Hence, Scomi Group Bhd’s judicial management application was dismissed.
I have updated this article with the full grounds of judgment dated 4 October 2021.
