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Liabilities of directors under Malaysian insolvency laws and recovery of assets during corporate insolvency

Under the legal regime governing Malaysian companies, insolvency is defined as a state of affairs where the company is unable to meet its financial obligation namely to pay its debt. A bound of director is usually entrusted with the responsibilities. Liabilities can in certain circumstances be att...

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Main Author: Aishah Bidin,
Format: Article
Published: Fakulti Undang - Undang 2004
Online Access:http://journalarticle.ukm.my/1664/
http://ejournal.ukm.my/juum
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spelling my-ukm.journal.16642019-05-14T04:43:57Z http://journalarticle.ukm.my/1664/ Liabilities of directors under Malaysian insolvency laws and recovery of assets during corporate insolvency Aishah Bidin, Under the legal regime governing Malaysian companies, insolvency is defined as a state of affairs where the company is unable to meet its financial obligation namely to pay its debt. A bound of director is usually entrusted with the responsibilities. Liabilities can in certain circumstances be attached to the directors when the company goes into liquidation. In such situation, the rights of creditors emerge which gave rise to legal issues in relation to duties of directors to creditors. These liabilities can take in the form of personal can also be held criminally liable for any failure to observe statutory requirements or for dishonesty and fraudulent conduct with respect to the company. This paper will evaluate the extent of the directors’ duties and liabilities during insolvency and issues on recovery of assets and claims by creditors during insolvency Fakulti Undang - Undang 2004 Article PeerReviewed Aishah Bidin, (2004) Liabilities of directors under Malaysian insolvency laws and recovery of assets during corporate insolvency. Jurnal Undang-undang, 8 . ISSN 1394-7729 http://ejournal.ukm.my/juum
institution Universiti Kebangsaan Malaysia
building Perpustakaan Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
description Under the legal regime governing Malaysian companies, insolvency is defined as a state of affairs where the company is unable to meet its financial obligation namely to pay its debt. A bound of director is usually entrusted with the responsibilities. Liabilities can in certain circumstances be attached to the directors when the company goes into liquidation. In such situation, the rights of creditors emerge which gave rise to legal issues in relation to duties of directors to creditors. These liabilities can take in the form of personal can also be held criminally liable for any failure to observe statutory requirements or for dishonesty and fraudulent conduct with respect to the company. This paper will evaluate the extent of the directors’ duties and liabilities during insolvency and issues on recovery of assets and claims by creditors during insolvency
format Article
author Aishah Bidin,
spellingShingle Aishah Bidin,
Liabilities of directors under Malaysian insolvency laws and recovery of assets during corporate insolvency
author_facet Aishah Bidin,
author_sort Aishah Bidin,
title Liabilities of directors under Malaysian insolvency laws and recovery of assets during corporate insolvency
title_short Liabilities of directors under Malaysian insolvency laws and recovery of assets during corporate insolvency
title_full Liabilities of directors under Malaysian insolvency laws and recovery of assets during corporate insolvency
title_fullStr Liabilities of directors under Malaysian insolvency laws and recovery of assets during corporate insolvency
title_full_unstemmed Liabilities of directors under Malaysian insolvency laws and recovery of assets during corporate insolvency
title_sort liabilities of directors under malaysian insolvency laws and recovery of assets during corporate insolvency
publisher Fakulti Undang - Undang
publishDate 2004
url http://journalarticle.ukm.my/1664/
http://ejournal.ukm.my/juum
_version_ 1643735108443701248
score 13.214268

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