[DISPUTE RESOLUTION] Special Alert: Apex Equity Sdn Bhd v Concrete Parade Sdn Bhd & Others (FC) – A Landmark Decision on Corporate Transactions and Shareholders’ Dispute
Recently, LHAG’s lawyers, Lambert Rasa-Ratnam and Chan Mun Yew, succeeded in representing their clients in a landmark Federal Court case concerning corporate law. This pivotal ruling overturned the Court of Appeal’s decision in a matter involving standard corporate transactions such as mergers & acquisitions and private placements, shedding light on crucial interpretations of the Companies Act 2016.
Explore the nuanced legal analysis and its implications for corporate transactions in this insightful summary.
If you have any queries, kindly contact Partner, Chan Mun Yew (myc@lh-ag.com), or Senior Partner, Lambert Rasa-Ratnam (lr@lh-ag.com)
[EMPLOYMENT] Understanding the Framework of Malaysia’s Anti-Sexual Harassment Tribunal
The Anti-Sexual Harassment (Tribunal For Anti-Sexual Harassment) Regulations 2024 came into effect on 8 March 2024. The Regulations establish the processes governing the adjudication of sexual harassment complaints within the Anti-Sexual Harassment Tribunal.
In this alert, Partner, Shariffullah Majeed, and Associate, Summer Chong, discuss the procedural framework for handling sexual harassment complaints within the Tribunal.
Our earlier insight on this topic can be found here.
If you have any queries, please contact Associate, Summer Chong Yue Han (yhc@lh-ag.com), Senior Associate, Arissa Ahrom (aa@lh-ag.com) or their team Partner, Shariffullah Majeed (sha@lh-ag.com).
[TAX, CUSTOMS & TRADE] Special Alert: Court of Appeal: Subsidiary Legislation and Customs’ Guidelines Cannot Supersede the Principal Act
Recently, the Court of Appeal released the Grounds of Judgment for Dyson Manufacturing Sdn Bhd v Ketua Pengarah Kastam. The case highlights, amongst others, the following points:
1. Subsidiary legislation must not be interpreted in a manner that conflicts with the principal Act.
2. The construction of statutes and written documents is a question of law for the Court. Customs’ guidelines on such matters have no force of law.
Furthermore, the Court of Appeal acknowledged that judicial review is the sole remedy available to taxpayers who are aggrieved by any GST bill of demand issued after the repeal of the GST Act 2014.
Dyson Manufacturing Sdn Bhd was successfully represented by Dato’ Nitin Nadkarni, Ivy Ling Yieng Ping, and Jay Fong Jia Sheng from the Tax, Customs & Trade Practice Group of Lee Hishammuddin Allen & Gledhill.
If you have any queries, please contact Associate, Jay Fong Jia Sheng (fjs@lh-ag.com), Partner, Ivy Ling Yieng Ping (il@lh-ag.com), or Consultant, Dato’ Nitin Nadkarni (nn@lh-ag.com).
[INTERNATIONAL ARBITRATION] Special Alert: Updates to the IBA Guidelines on Conflicts of Interest in International Arbitration
The IBA has recently released its 2024 iteration of its Guidelines on Conflicts of Interest in International Arbitration. The revisions seek to reflect ongoing developments in the global arbitration landscape, offering clearer guidance on potential conflicts of interest for arbitrators and situations triggering the need for disclosures to be promptly made.
This e-alert summarises the notable takeaways from the revisions.
If you have any queries, please contact Associate, Stephanie Lim Shu Juin (lsj@lh-ag.com) or her team Partner, Lim Chee Yong (lhy@lh-ag.com).
[DISPUTE RESOLUTION] Special Alert: Raintree F&B Sdn Bhd v Red Sena Berhad (In Liquidation)
Distribution of surplus assets of a Special Purpose Acquisition Company
On 11.3.2024, the Federal Court unanimously dismissed the Applicant’s application for leave to appeal to the Federal Court against the Court of Appeal’s decision on 19.9.2023. The Court of Appeal upheld the decision of the High Court that the Applicant is not entitled to participate in the distribution of the surplus funds of Red Sena Berhad, a Special Purpose Acquisition Company (“SPAC”), on its voluntary winding-up, following its failure to complete a qualifying acquisition within the permitted timeframe.
In dismissing the leave application, the Federal Court held that the questions posed did not meet the threshold for leave under Section 96(a) of the Courts of Judicature Act 1964. The decision of the High Court and Court of Appeal uphold the policy intent of the relevant provisions in the SC Equity Guidelines – to ensure IPO Investors are not put at risk and will be able to recoup their invested funds, if a SPAC fails to complete the qualifying acquisition within the permitted timeframe, and promote trust and confidence in the legislative scheme governing SPACs.
If you have any queries, please contact Senior Partner, Lambert Rasa Ratnam (lr@lh-ag.com), Partner, Chia Oh Sheng (cos@lh-ag.com), Associate, Lim Jun Xian (ljx@lh-ag.com) or Pupil, Leow Jun Jie Andrew (jjleow@lh-ag.com)
[ESG] “Wanita MyWIRA”: Championing Women’s Inclusion and Empowerment
Last week, Malaysia’s Human Resources Ministry (KESUMA) via TalentCorp launched the ‘Wanita MyWIRA’ (translated as Women MyHERO) initiative. Companies committed to Diversity, Equity, and Inclusion (DEI) as an integral component of their ESG initiatives will benefit from aligning with and exploring the Wanita MyWIRA initiative.
If you have any queries, please contact the author, Tan Hooi Ping (hpt@lh-ag.com).
[INTERNATIONAL ARBITRATION] Navigating the Costs of Arbitration: 10 Financial Tips for Business Owners Considering Arbitration
The Queen Mary International Arbitration Survey consistently rates ‘costs’ as one of the major concerns for parties when contemplating arbitration. With the escalation of international commercial transactions in both size and complexity, arbitrations have become more intricate and expensive.
What, then, can business owners do to financially plan and prepare for a cost-efficient arbitration? This e-Alert serves to highlight 10 financial strategy tips for parties contemplating arbitration proceedings.
For the Mandarin version of the e-Alert, please click here.
If you have any queries, please contact Pupil, Lim Jia Yun Ruth (jylim@lh-ag.com) or her team Partner, Crystal Wong Wai Chin (wwc@lh-ag.com).
[EMPLOYMENT] Special Alert: Seeking Reinstatement To Employment Through Judicial Review
An aggrieved employee of a prominent Government-Linked Corporation (GLC) lodged a judicial review application seeking reinstatement. The key question this presents is the viability of judicial review where the employer in question exercises both private and public functions.
This alert outlines key takeaways from the judgment of the High Court in Noor Mohamad Bin Nordin v Petroliam Nasional Berhad [Judicial Review Application No.: KA-25-18-07/2023], which underscores the importance of understanding the boundaries of judicial review, particularly in cases involving entities performing both public and private functions. Disgruntled employees are to pursue reinstatement through established industrial relations channels rather than attempting a backdoor approach through judicial review.
If you have any queries, please contact Associate, Ashreyna Kaur Bhatia (akb@lh-ag.com), or her team Partner, Amardeep Singh Toor (ast@lh-ag.com).
[EMPLOYMENT] Special Alert: Controversial Employment Policies
Controversial employment policies implemented by a popular food chain have come under fire recently. These policies include imposing monetary penalties on employees for seemingly minor errors. Such practices may violate employment laws or regulations, raising concerns about fairness, and employee rights.
This article discusses the legality of these controversial employment policies and their ethical considerations.
If you have any queries, please contact Associate, Summer Chong Yue Han (yhc@lh-ag.com), or her team Partner, Shariffullah Majeed (sha@lh-ag.com).
[ESG] Registration Commences For The Low Carbon Energy Generation Programme
The Low Carbon Energy Generation Programme was recently launched in Malaysia with a total quota of 400MW allocated for low carbon projects. Applicants who wish to participate may register with the Single Buyer.
If you have any queries, please contact the author, Joyce Ong Kar Yee (oky@lh-ag.com).