In brief The Insolvency (Amendment) Bill 2023 (“Amendment”) was passed in the Dewan Rakyat on 24 May 2023. The Amendment seeks to provide for a more effective bankruptcy administration system which is in line with the Government’s intention to preserve the welfare of bankrupt individuals. The Insolvency Act 1967 (“Act”) was last amended on 1 September 2021 vide the Insolvency (Amendment) Act 2020. Key takeaways The critical suggested amendments to the Act are as follows:…
In circumstances where an arbitration clause expressly includes only some, but not all, of the parties to a transaction, and a dispute arises between all concerned, naturally, only those parties included in the arbitration clause may participate in the arbitration, leaving the other parties to seek redress from the courts. The question is what the non-parties to the arbitration can do if the arbitration touches upon their interests? In Jaya Sudhir Jayaram v Nautical Supreme…