Brief Answers to the BIG Questions in Debt Recovery Malaysia
For English Version please click here
Does the Legal Process Start with a Letter of Demand
Fundamental Question: if I sue someone will I be guaranteed a payment?
基本问题: 如果我选择起诉某人,是否可以 保证我能得到偿还吗?
Before a credit s 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
传讯令状 vs 公司清盘呈请
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.
在 “传讯令状”程序的最后阶段, 法庭可以给于判决。
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
有个公司清盘程序的手册著作。由 Alex Chang 编辑。
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.
是的，所有的判决都会包含五巴仙年利率, 此利息会从判决当天开始计算。 在某些情况, 法官可能会下令利息在双方认同的利率中从欠债的日期开始算起。
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.
Once A Court Make 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.
不是,上诉有两个层次。从高等法院到上诉庭, 然后再到联邦法院 。
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.
有个高等法院裁定我们的客户支付7400万令吉（1850万美金), 我们成功把该判决给搁置。索赔人把该案件向上诉庭上诉然后再向联邦法院上诉, 仍然无法驳回我们的搁置。最后， 我们的顾客无需支付任何金额。
Enforcement of Judgment
You may enforce a Judgment by way of a Writ of Seizure and Sale. Please click here for more information.
You may enforce a Judgment by way of filing a Company Winding Up Petition. Please click here for more information.
You may enforce a Judgment by way of filing a Bankruptcy application.