Brief Answers to the BIG Questions in Debt Recovery Malaysia
Does the Legal Process Start with a Letter of Demand
Fundamental Question: if I sue someone will I be guaranteed a payment?
Before a credit is extended, a creditor must conduct due diligence on their debtors and come to a conclusion whether, when push comes to shove (at the end of the day) can the debtors pay the debts?
What a lawyer cannot do, is to guarantee a recovery.
Writ of Summons vs Companies winding up Petition
All debs recovery process in Malaysia may start with a letter of demand followed by a Writ of Summons to recover a debt against an individual or a company.
On Writ of Summons click here.
The quickest way to obtain a judgment is via the summary judgment process.
On Summary Judgment click here.
At the end of a Writ of Summons process, the court may grant a judgment.
You may execute a judgment by way of a bankruptcy petition, a Writ of Seizure and Sale, a judgment debtor’s summons, a garnishee proceedings or a companies winding up petition.
On a writ of seizure and sale click here.
Alternatively you may commence a companies winding up petition against a company in malaysia without first obtaining a court judgment.
On Whether a Judgment is Required before the filing of a Winding Up Petition click here.
Companies winding up Handbook Malaysia
There is a Handbook written on the companies winding up procedures in Malaysia. Edited by Alex Chang
See the foreword by Dato Gopal Sri Ram a former Federal Court judge.
See also the foreword by Datuk Wira Low Hop Bing a former judge of the Court of Appeal.
Can I get interest on a judgment sum?
Yes all judgments come with a 5% per annum interest from the date of judgment, some judges, if the circumstances is right, may grant interest at an agreed rate from the due dates.
What can I get if a settlement is negotiated?
In any negotiations, the final settlement sums will be dependant on the skills of the negotiators and the strength of the case.
The least desirable is a settlement after a “hair cut” (a discount from the debt owed);
The desirable settlement is one with a full settlement;
The most desirable settlement is one with a full settlement plus interest and legal fees.
If Once A Court Made an Award Will It Be the End
No there are two levels of appeal. From the High Court to the Court of Appeal and then to the Federal Court.
A High Court gave an award against our client to pay RM74 Million (USD18.5 Million), we set aside that award, the claimant appealed to the Court of Appeal and then to the Federal Court failed to reverse our setting aside. At the end our client did not have to pay.
REVIEWS OF OUR CLIENTS
Applying our experience, energy and expertise to every project we accept, the members of our firm are dedicated to your success.
Send in the SEAL Team To Extract Your Lost FundsChinese Version “Versi Bahasa Malaysia” 1 Once you have obtained a judgment, you are only HALF way…
Recovery After Winding Up and Recovery Just Before Debtors Going SouthMany lawyers can recover a debt for you. But how many can recover very substantial sums from these…
Write Off RM74 Million Court Awarded Damages Reduced to NothingWrite Off and Save Our Clients RM74 million of Damages Awarded By the Courts LGB Engineering v Saiful…
Something for Nothing Getting Out of the Get Out ClauseSomething for Nothing Getting Out of the Get Out Clause “If enemy offers you two options, surprise him…
98 Percent Recovery of the Debt After Paying Legal Fees98 Percent Recovery of the Debt After Paying Legal Fees We would like to record our gratitude towards…
Meticulous Work Spectacular ResultThey are meticulous and their results are spectacular “Versi Bahasa Malaysia“ Lawyers there are many types. We need…
Wound Up the Company Who Tried to Wind us UpWound Up the Company Who Tried to Wind us Up FORE-SIGHT MARKETING SDN. BHD. And QUINTRAZ SDN. BHD.…
A Hole In One Kind Of Legal Firm Poured a RM15 Million claim into the HoleWe would like to thank you for handling the above matter on our behalf as well as for…
Mr Chang the Debtor Whisperer to Make Him PayMagic Words and Personal Attention Got Us Our Money in Lighting Speed “Versi Bahasa Malaysia“ 1 One of …
Distressed Over Defaulting Tenants A Happy a Landlord Edward LeeDistressed Over Defaulting Tenants A Happy Story of a Landlord Versi Bahasa Malaysia 1 Luck favoured me…