Malaysia Court of Appeal issues landmark decision on scheme of arrangement and clarifies new “cooling off” period for a restraining order

25 March 2025

Martin Bencher (Malaysia) Sdn Bhd v Sapura Energy Berhad & Ors (Civil Appeal No. W-02(IM)(NCC)-1879-11/2023)

The Malaysia Court of Appeal in Martin Bencher (Malaysia) Sdn Bhd v Sapura Energy Berhad & Ors 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 by our associate firm in Malaysia, Rahmat Lim & Partners, provides an overview of the court’s decision. It is available on their website.

Partner Kwong Chiew Ee and Principal Neoh Jin Keat of Rahmat Lim & Partners acted for the respondents at the Court of Appeal.