THE NEW COMPANIES ACT 2016 and the COMPANIES WINDING UP PETITIONS
AN INTRODUCTION

by Mr Alex Chang Huey Wah

1 New threshold of issuing a Notice Pursuant to s 218 (now 465 and 466) of the new Act.

2 Definition of Unable to pay its debts

3 Affidavit Verifying Petition

4 New Commencement of the Winding Up

5 Twice or four times Advertisement of the Petition in the Newspapers?

6 Affidavit In Opposition to Petition

7 Appointment of an INTERIM Liquidator, Official Receiver or the (Private) liquidator.

8 Costs

Bonus Chapters
9 Interpretation by the Federal Court of the word ‘and’ in s 223 of the old Companies Act 1965, as ‘disjunctively’ instead of the usual ‘conjunctively’, and now in light of the new section 467 the Companies Act 2016.

9.1 The “Pay Something for Nothing” proposition.

10 How the RM74 million court judgment in Damages based on the valuation of shares was reduced to nothing?

10.1 The journey of both matters from the High Court all the way to the Federal Court.