What happens if a new law comes into force? Will it supplement/ replace its predecessors? Will it replaces the rights that you have acquired by virtue of conforming to the existing law? Which law must you adhere to? Will you be breaching the new law if you are to adhere to the old law? This…
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The Construction Industry Payment and Adjudication Act (“the Act”) was created to provide an alternative method for a party to recover the unpaid sum that is due to them in a construction contract. More specifically, it was created to remedy the ‘pay-when-paid’ situation in the construction industry. In the construction industry, this is known as…
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If you decided to become a social guarantor for another person in order for them to obtain a loan from a creditor (usually a bank), can the creditor commence bankruptcy proceedings against you if the person fails to settle the loan with the creditor? Who is a social guarantor Under section 2 of the Insolvency …
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What happens if a company is in a deadlocked situation and one faction of shareholders commits wrongdoing against the company? Can the other half of the shareholders of the company seek redress against them? This question was tackled in Perak Integrated Network Services Sdn Bhd v Urban Domain Sdn Bhd (on behalf of themselves and…
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Recently, the Division 8 Part III of the Companies Act (‘CA’) has come into force/ has been enforced by the Companies Commission of Malaysia (‘CCM’) or Syarikat Suruhanjaya Malaysia (‘SSM’) to assist companies that are facing financial difficulties. This is to ensure that companies have a lifeline to survive instead of heading straight down the…
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