Sunday, 5 February 2017

Sunday Fun Reads: Malaysian Corporate Law Cases

Providing you with watercooler discussion ideas


Besides catching up on your colleagues' weekend activities and Chinese New Year shenanigans, here's an alternate topic - a trip down memory lane in respect of case laws relating to the Malaysian Companies Act.

Source: https://www.commonsensemedia.org/blog

1. Malayan Banking Berhad v Chip Lam Seng Enterprise Berhad [2014] 1 LNS 1583

Can a company avoid compulsory winding up by undertaking a voluntary winding up? Also covered, can the Court appoint a provisional liquidator pending the disposal of a winding up petition?

2. Koh Jui Hiong @ Koa Jui Heong & 8 others v Ki Tak Sang @ Kee Tak Sang [Federal Court Civil Appeal No. 02-83-11/2012(M)]

Can an award of damages be made in an action under s 181 of the Companies Act 1965, even if the petitioner has no standing to bring an action under s 181?

3. Francis a/l Augustine Pereira v Dataran Mantin Sdn Bhd & 6 others [Federal Court Civil Appeal No. 02(f)-91-11/2012(B)]

This case provides definitive test on what constitutes a class of creditors within the meaning of s 176 of the Companies Act 1965 and also clarifies that said section allows a company flexibility to select creditors that it wishes to enter into an arrangement with.

4. Mohd Shuaib Ishak v Celcom (Malaysia) Berhad [2008] 1 LNS 314

This is the first reported case in Malaysia where leave was granted to an individual shareholder to commence a statutory derivative action and the requirements that needs to be fulfilled to do so.

5. Edmund Ming Kwan v Extra Excel (Malaysia) Sdn Bhd & Ors [2013] 4 CLJ 842

An exciting case involving a minority shareholder filing a petition for alleged breach of fiduciary duties and the filing of a cross-petition for alleged oppression by the first petitioner.

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