Regional news: Malaysia
Creditors fail to wind up Chinese real estate group
A winding-up application launched by two alleged creditors against international real estate developer Guangzhou R&F Properties in China has failed after a mainland court found no evidence the company is insolvent.
14 July 2023
Canadian theme park ride creator rolls into bankruptcy
A Toronto-listed roller coaster manufacturer that builds rides for Disney and Universal Studios resorts in the US, Japan and China has sought Chapter 15 relief in Texas while it negotiates a sale to its debtor-in-possession lender.
18 May 2023
Cayman SPC liquidators plan recognition actions in Malaysia and UK
The Hong Kong and Cayman-based voluntary liquidators of a cash-strapped segregated portfolio company have asked a Cayman court to supervise its liquidation and allow them to seek recognition in Malaysia and the UK.
01 May 2023
Malaysia’s Sapura Energy obtains recognition in Singapore
Three subsidiaries of Malaysian oil and gas services company Sapura Energy have secured Singaporean recognition of their ongoing restructuring proceedings following a flurry of winding up petitions filed against the group last year.
01 February 2023
Developments in judicial management in Malaysia
Featured in Asia-Pacific Restructuring Review 2023
09 September 2022
Malaysia’s Federal Court agrees to determine long-debated scheme of arrangement issues
Malaysia’s apex court will hear whether local judges can “embark on a dissection” of a scheme of arrangement’s “relative commercial merits”, after allowing a subsidiary of a Singapore-listed property group to appeal the rejection of its own scheme earlier this year.
18 July 2022
Liquidators of BVI funds linked to 1MDB win recognition in Florida
The joint liquidators of three 1MDB-linked British Virgin Islands funds have secured recognition of their appointments in Miami, pledging to obtain discovery in the US to help with their recovery efforts.
18 May 2022
Cayman court rules on when a beneficial owner can pursue winding up
A Cayman court has issued its reasons for permitting the 1MDB-linked beneficial owner of shares in a local investment vehicle, to convert the vehicle's voluntary liquidation into a court-supervised winding up, where proceedings to vindicate share rights can normally only be brought by a registered shareholder under Cayman law.
03 May 2022
Kroll managing director appointed to Malaysian energy company's board
Malaysia's Sapura Energy has appointed a senior member of Kroll’s restructuring team to its board after receiving the green light to convene meetings for creditors to vote on a scheme of arrangement.
20 April 2022
Pinsent Masons and Crowell & Moring advise on latest TM Lewin rescue
Less than two years after collapsing into administration and shutting all its UK stores, British menswear retailer TM Lewin has been bought out of administration again – this time by a Malaysia-based lender.
12 April 2022