Post by LHAG
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πππ«π’π―πππ’π―π ππππ’π¨π§: ππ¨ππ¬ ππ¨π¬π¬ π¨π ππππ§ππ’π§π ππ² ππ‘π ππ¨π¦π©π₯ππ’π§ππ§π ππππππ ππ‘π ππ«π¨πππππ’π§π π¬? A recent High Court decision in Datoβ Seri Timor Shah Rafiq v Nautilus Tug & Towage Sdn Bhd [Suit No. WA-24NCC-677-12/2023] clarifies a key issue under Section 347 of the Companies Act 2016: what happens when the complainant loses his standing after commencing the derivative action? In this brief article, we examine the High Courtβs grounds of judgment in deciding whether a complainant must maintain his locus standi throughout the derivative proceedings. If you have any queries, please do not hesitate to contact Senior Associate, Harvey Ng Yih Xiang ([email protected]) or Associates, Ong Zhi Qian ([email protected]) and Kamiliacheng ([email protected]). #lhagmy #lhaginsights #TMT #Company #DerivativeAction #Commercial #Corporate #Disputes
