The Federal Court in Auspicious Journey Sdn Bhd v Ebony Ritz Sdn Bhd & Ors recently dealt with the issue of whether directors of a company and/ or third parties can be held personally liable for oppression action. To cut the long story short, the Federal Court held in the positive. The long answer is…
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Anti-Money Laundering, Anti-Terrorism Financing And Proceeds of Unlawful Activities Act, or AMLA for short, is a piece of legislation created for the purpose of punishing those who commit money laundering activities and/ or those who commit the act of financing terrorist activities. Money Laundering? Financing Terrorist Activities? What Is That All About? Money laundering is…
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We have been dealing with a lot of minority oppression cases/ issues in our previous articles. In this article, we will deal with the exact opposite, namely, whether the majority shareholders of a company can be oppressed/ bring an oppression suit. What is oppression? Oppression is an act whereby the action of the company (against…
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Can directors of a company and/ or third parties can be held personally liable for oppression action? This issue was dealt with recently in the Federal Court in Auspicious Journey Sdn Bhd v Ebony Ritz Sdn Bhd & Ors. We shall briefly discuss the question posed. (we have previously dealt with the issues of bringing…
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