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Can A Debenture Holder Sue On The Basis Of Oppression?

What is a debenture holder? Can a debenture holder raise an oppression claim in court? This question was dealt with in the recent case of The Bank Of Nova Scotia Berhad & Anor v Lion DRI Sdn Bhd & Ors. We shall briefly share with you what the court says on this matter. What is…
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June 30, 2021 0

Does “Reflective Loss Principle” Applies Across The Board?

Does the reflective loss principle apply across the board or only to a specific group of people? This issue was recently dealt with by the high court in Agathisfour Sdn Bhd v Papparich Group Sdn Bhd. We will briefly look at it in the article below. Brief facts of the case Agathisfour entered into a…
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June 30, 2021 0

Determining The Financial Year End Of A Company

What is it all about? The financial year-end is an annual must-do exercise in which every company has to go through. In this regard: It determines the company’s financial statement; It is generally known as the financial year where the profit & loss account and balance sheet are made up and made known to the…
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June 29, 2021 0

What Are The Roles And Duties Of A Company Secretary?

Broadly speaking, a company secretary (or ‘co sec’ as they are colloquially called) is someone who usually assists the company in observing corporate governance, corporate planning, and strategy development of the company. Once you get to know one, you will realize that a company secretary does more than just that. While you might think that…
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June 22, 2021 0

Can Derivative Action Be Instituted Against A Third Party?

A brief guide on “derivative action” A derivative action is an exception to the common law rule in Foss v Harbottle (the rule in Foss v Harbottle provides that if a company suffers a wrong, prima facie it is the company itself that should institute an action to remedy the wrong done to it, and…
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May 31, 2021 0

A Quick Guide On Erinford Injunction

A brief history of erinford injunction Erinford came about when the court realizes there is a need to ensure that a decision (when appealed) to a higher court, will not be rendered of no value or importance if the decision is revered by the higher court, in the sense that there is nothing left for…
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May 31, 2021 0

Can properties held under trust be seized under AMLA?

FYI, a  public prosecutor can order the seizing of properties of a person that is charged under AMLA. However, can they seize properties that are under trust? If the answer is yes, under what condition can they do so? Let’s briefly have a look at the Court of Appeal case of Tetuan Khana & Co…
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May 29, 2021 0

Can a civil action be instituted against a party after who just had its property seized under AMLA?

Can a party institute a civil action against an offending party after the offending party’s assets and properties are seized under AMLA? This question was briefly analyzed and dealt with in Protasco Bhd v PT Anglo Slavic Utama & Ors, which we will briefly have a look at in this article.  Brief facts of the…
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May 29, 2021 0

Can A Director/ Third Party Be Held Personally Liable In An Oppression Suit?

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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April 30, 2021 0

Reporting A Suspicious Transaction Under AMLA 2001

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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April 30, 2021 0