Abstract:
On 31 August 2016, the Companies Act 2016 (Act 777) formally introduced and embedded the judicial management framework into Malaysia’s statutory corporate insolvency framework. It has been more than a year since the judicial management provisions came into effect, and therefore, this article will explore the extent to which judicial management in Malaysia, in its present iteration, sufficiently embodies a rescue culture. To achieve this, this article will examine the law reform efforts leading to the introduction of judicial management and the decisions of the Malaysian courts thereafter, and juxtapose the same against reforms and decisions in other jurisdictions, namely the UK and Singapore. Ultimately, there will be an evaluation on the adequacy of the law reforms undertaken that led to the introduction of judicial management in Malaysia.