We look back at the year 2021 and with a countdown of the top 5 most-read articles on The Malaysian Lawyer this year. We look forward to having our readers continue to frequent this blog in the year 2022.
winding up
Top 5 Restructuring and Insolvency Cases in Malaysia 2021
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.
Case Update: Who Has to Pay the Liquidator’s Remuneration When Winding Up Reversed?
The Singapore Court of Appeal in AnAn Group (Singapore) Pte Ltd v VTB Bank (Public Joint Stock Company) [2021] SGCA 112 dealt with an important and novel area of winding up law. If a winding up order is subsequently reversed or set aside, who should pay for all the winding up expenses, including the liquidator’s fees?
While this is a Singapore decision, it would be persuasive in Malaysia as our laws are similar. The aim of this update is to focus on this key issue and set out the takeaway points to apply in a Malaysian context.
Case Update: Filing of Judicial Management Will Restrain Advertisement of Winding Up
The Court of Appeal in Kumpulan Liziz Sdn Bjd (in liquidation) v Pembinaan Azam Jaya Sdn Bhd (grounds of judgment dated 25 November 2021) ruled that the judicial management moratorium will extend to restraining any advertisement or gazetting of a winding up petition.
You Want to be a Commercial Litigator? Here are 10 Tips
Recently, a young lawyer asked me for advice on how to generally switch practice areas to move into litigation. From my brief advice, I thought it would be useful to set out and expand on my tips. I write this especially from the lens of a commercial litigator.
These tips are shaped by my personal experience. Please feel free to suggest more tips in the comments section and where we can learn from other lawyers’ experiences.
Case Update: Creditors’ Decision in Liquidation Governed by Majority in Value?
The High Court in Coca Cola Refreshments Malaysia Sdn Bhd v Leejin Capital Sdn Bhd [2021] MLJU 1700 (grounds of judgment date 6 August 2021) invalidated the appointment of the liquidator in a creditors’ voluntary winding up. The Court ordered that instead, another liquidator candidate be appointed, where that candidate was nominated by a creditor holding a majority in value of the debt of the company.
This decision may cause uncertainty for future creditors’ voluntary winding up as well as other forms of winding up.