FAQs for Malaysia

FAQS (Malaysia & Singapore)

Who is qualified to be appointed as Receiver or Receiver and Manager?

Pursuant to Companies Act 2016 Section 372, “Any person who is an approved liquidator referred to in section 433 shall be qualified to be appointed as receiver or receiver and manager.”. Section 385 state that an approved liquidator may be app...

11/04/18 by Alex Chiang

How does one appoint a Receiver or Receiver and Manager?

Section 374 of the Companies Act 2016 states that  the power to appoint could be made under:

a.      Any instrument that confers on a debenture holder or charge holder;

b.      Any instrument that creates a charge in respe...

11/04/18 by Alex Chiang

What is the power of the Receiver or Receiver and Manager?

The 6th Schedule [Section 383] of the Companies Act 2016 outlined the power of the Receiver or Receiver and Manager.

(Malaysia)

 

...

11/04/18 by Alex Chiang

What are the differences between Creditors’ Voluntary Winding-Up and Members’ Voluntary Winding-Up?

CREDITORS’ VOLUNTARY WINDING-UP

The creditors’ voluntary winding-up is initiated by the directors and approved by shareholders and creditors of the company. An Extraordinary General Meeting (“EGM”) of shareholders and a creditors’...

11/04/18 by Alex Chiang

What are the powers of a Liquidator?

The power of an appointed liquidator in a company winding-up by court is outlined in the Companies Act 2016 under Schedule 12 (Secs. 472 & 486) and  Schedule 11 for voluntary winding-up.

(Malaysia)

...

11/04/18 by Alex Chiang

What are the fees involved?

The professional fees chargeable for court liquidation is guided under Table C of Companies (Winding-up) Rules 1972:

A.     Where the Official receiver acts as interim Liquidator only:

i.                    RM1...

11/04/18 by Alex Chiang
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