In the latest chapter of KNM Group’s high-stakes restructuring, the High Court has allowed the company to proceed with its fifth scheme of arrangement proposal. However, the Court declined to grant a restraining order, which would have given KNM a moratorium on legal proceedings filed against it.
This is one of the first reported
The Malaysian Lawyer
The Malaysian Lawyer is a collaborative blog by two Malaysian lawyers, Lee Shih and Marcus van Geyzel. We set out updates on areas of Malaysian commercial law.
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BFM Radio Interview on Cross-Border Insolvency
By Lee Shih
On 24 April 2025, I spoke on the BFM radio station to speak on recent developments in the field of insolvency. First, with Malaysia’s intention to adopt the UNICTRAL Model Law on Cross-Border Insolvency through the Cross-Border Insolvency Bill. Second, the challenges of recovering overseas assets. Third, the rise of voluntary bankruptcies in Malaysia.…
Case for Malaysia to adopt Model Law on Cross-Border Insolvency
By Lee Shih
On 14 April 2025, The Edge Malaysia published our piece on why Malaysia should adopt the UNCITRAL Model Law on Cross-Border Insolvency. I reproduce the article below.
Case for Malaysia to Adopt Model Law on Cross-Border Insolvency
As capital and commerce increasingly flow across borders, legal systems must adapt to manage financial distress on…
From Tether to Trouble: Court Denies Mareva Relief in RM3 million Crypto Dispute
By Lee Shih
A RM3.2 million crypto dispute has landed in the Malaysian High Court, centering on Tether (USDT) and allegations of misappropriation.
The plaintiff sought a Mareva injunction to freeze assets, but the Court ruled there was not enough evidence of risk of dissipation of assets.
I write on the case of Sim Kwang Kai Adrian v…
Largest Law Firms in Malaysia 2024
By Lee Shih
This is the 7th edition of our annual Largest Law Firms in Malaysia series. We total the number of lawyers from the Malaysian Bar Legal Directory. This is as at 7 December 2024.
The law firms will include the numbers from their branch offices. For this year’s edition, we have also included a mention…
Ex Parte Interim Judicial Manager Appointed Over Listed Company
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Financially-distressed public listed company, Sarawak Cable Berhad, is placed under interim judicial management. Its former lawyers obtained an ex parte order to appoint an interim judicial manager over the company.
With the amendments to the Companies Act 2016, this is the first instance of a judicial management application being applied to a listed company.…
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There is currently uncertainty on determining ultimate effective control in the context of a beneficial owner of a company.
Companies, directors and the beneficial owners of companies have until the extended deadline of 30 September 2024 to lodge accurate beneficial ownership information with the Companies Commission of Malaysia. I examine these uncertainties ahead of the…
Firing Up and Cooling Off the Restraining Order in Schemes of Arrangement
By Lee Shih
The Companies (Amendment) Act 2024 came into force on 1 April 2024. With the amendments, we see a strengthening of the restructuring and corporate rescue laws of Malaysia.
Among the different corporate rescue tools, schemes of arrangement had already been the most-used mechanism in Malaysia. The scheme of arrangement allowed for the Court to grant…
Largest Law Firms in Malaysia 2023
The Malaysian Lawyer continues with its annual listing of the largest law firms in Malaysia for the year 2023.
The statistics are as at 18 December 2023 and where the law firm is the aggregate of the number of lawyers in all its branches.
The Year 2023 In Review
The Stability and Growth of the…
Case Update: Court of Appeal Confirms Liquidator Cannot Grant Sanction for Legal Proceedings
By Lee Shih
On 16 November 2023, the Court of Appeal in Oren Venture Sdn Bhd v Small Medium Enterprise Development Bank Malaysia Berhad (Court of Appeal Civil Appeal No. W-02(IM)(MUA)-587-04/2022) upheld the High Court decision (reported at [2022] 12 MLJ 247 and where I had written about it here).
Set out below is the extract from the Court…