What is winding up? Generally speaking, it is a term/ phrase to describe the process of closing down or dissolving a company. This is not to be confused with bankruptcy (i.e. a process instituted against an individual who is unable to pay his debts). What does it involve? It involves the selling of assets (generally…
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With great power comes great responsibility. Being a company director comes with all the glamour and perks, but so do responsibilities. Let us help you navigate through the waters of directorship with a brief list of dos and don’ts for company directors in Malaysia. Director is not just about name and fame- it comes with…
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What happens if a person is accused of a crime? Will he be given a chance in court to prove his innocence in court (the answer is yes)? What happens in court? In this article, we will briefly deal with the last question i.e. looking at the trial process of a person who is accused…
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As we all know, the Companies Act 1965 has been repealed and replaced by the Companies Act 2016. Coming into force on the 31st of January, 2017, the 2016 Act was put in place to fix certain provisions that were problematic in the 1965 Act, such as the compliance provisions, procedures on the managing of…
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When we talk about a scheme of the arrangement, who are the parties that are usually involved? Today, we will briefly talk about them, namely, the creditors, and what they can do in relation to a scheme of arrangement. PS: We will deal with the topic of the scheme of arrangement in another article of…
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What is a death inquiry? Death inquiry is a process conducted by a Magistrate when a person dies suddenly/ unnaturally/ by violence/ by an unknown means. It is usually conducted to ascertain: The identity of the deceased; When, where, and how or why did the deceased pass away; Who caused the death of the deceased;…
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What is a fortuna injunction? Fortuna injunction is generally used or relied upon by a company when they want to prevent their creditors from winding up the company (by applying for a winding-up petition against the company) under section 466 of the Companies Act without any valid justification for doing so. Fortuna injunction got its…
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Today, we will briefly look at the High Court case of ISM Sdn Bhd v Queensway Nominees (Asing) Sdn Bhd & Ors And Other Suits. In particular, we will ask ourselves this while briefly sharing the case: do parties to a joint venture agreement automatically owe a fiduciary duty to one another? Brief facts of…
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Is a court bound by relief granted in the Companies Act in an oppression case (specifically, section 346(2) of the Companies Act? This was discussed in the Federal Court case of Auspicious Journey Sdn Bhd v Ebony Ritz Sdn Bhd & Ors. Let us have a look at it. Brief facts of the case Auspicious…
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Who do you turn to (and what do you need to know) if you are having a dispute with a condo managing corporation? We will briefly share with you below some of the options you have, and what you need to know about the options shared below. A) Strata management tribunal Question: What are some…
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