universal succession

Top 5 Company Law Cases in Malaysia for 2019

Lee Shih4 Comments

As 2019 draws to a close, I wanted to feature five interesting Malaysian company law cases during the year.

I have drawn from Malaysian decisions that advanced interesting points of law and has helped to develop company law and also the interpretation of the Companies Act 2016 (CA 2016). These cases range from the CEO’s fiduciary duty, the doctrine of a universal successor entity, and the chairman’s adjournment of general meetings.

This post is part of a 2019 trilogy that also features restructuring & insolvency cases, and arbitration cases.

I set out the five cases below. Continue reading →

Case Update: Malaysian Court Recognises Universal Succession and Transmission of Shares by Operation of Law

Lee Shih2 Comments

The High Court in its grounds of judgment dated 5 August 2019 in the case of United Renewable Energy Co Ltd v TS Solartech Sdn Bhd. This is the first Malaysian decision to recognise the doctrine of universal succession. The Court gave effect to the transmission of shares by operation of law where there has been a foreign merger. This is a matter where I successfully acted for the applicant company.

The High Court granted a declaration that the foreign merger of the Taiwanese companies in question had carried into effect a transmission of shares held in a Malaysian company by operation of law. Further, the High Court allowed a rectification of the register of members of the Malaysian company to reflect the name of the successor entity.

Continue reading →