Recent Malaysian court decision sheds light on proof of debt exercise in scheme of arrangement and the test for granting leave to proceed against restraining order
This update by Christopher and Lee Ong provides a summary of the recent decision of the Malaysian High Court in Re Top Builders Capital Bhd & Ors [2021] 10 MLJ 327, and highlights the procedure and approach for the assessment of the proofs of debt for voting in a scheme and sets out the test and considerations when granting leave to a creditor to proceed with its legal proceedings against a company with a restraining order.
