Workshop on “Managing Insolvency: Restructuring the Distressed”
Olive Tree Hotel Penang 76 Jalan Mahsuri, Bandar Sunway Tunas, PenangWhen a company enters financial distress, it may signal the impending insolvency and winding up of a company. The company’s secured lender may have a right to also appoint a receiver over the company due to the company’s inability to pay its debts to the secured lender. A company will want to consider its options in attempting to restructure its debts and to revive its business. The corporate rescue mechanisms under the new Companies Act 2016 allow additional options for a company to restructure its debts and to revive its business. The new processes are the corporate voluntary arrangement and judicial management. They complement the schemes of arrangement process.