Knowledge Highlights 7 March 2025
Court of Appeal issues landmark decision on scheme of arrangement and clarifies new “cooling off” period for a restraining order
The Court of Appeal in Martin Bencher (Malaysia) Sdn Bhd v Sapura Energy Berhad & Ors (Civil Appeal No. W-02(IM)(NCC)-1879-11/2023) issued a landmark decision pertaining to the filing of consecutive fresh applications for a scheme of arrangement under the Companies Act 2016 and the effect of a creditor’s submission of proof of debt. The decision also sets out helpful guidance on the new “cooling off” period for restraining orders introduced by the Companies (Amendment) Act 2024.
This article provides an overview of the court’s decision.
Further information
Our Partner Kwong Chiew Ee and Principal Neoh Jin Keat acted for the Respondents at the Court of Appeal.
Members of the Firm’s Restructuring & Insolvency Practice, Managing Partner Azman bin Othman Luk, Partners Jack Yow and Kwong Chiew Ee, Principals Neoh Jin Keat and Melvin Ng are advising the Sapura Energy Group in its ongoing schemes of arrangements.
