JSB171 Lecture Notes - Lecture 1: Time In Malaysia, Company Seal, Cheque
Document Summary
= administration of a company s affairs with a view to executing a deed of company arrangement. Maximise the chance of the company to remain in business: s435a(a); or. Failing that, to manage the business to allow for better results for creditors and members than winding up: s435a(b) When an administrator appointed: s 435c(1)(a) (under s436a, 436b or 436c) Only three methods of appointment cannot be appointed by the court: Board of directors by resolution in writing: s436a(1) Cannot be done if already under liquidation (can if under receivership): s436a(2) Where the company is insolvent, or likely to become insolvent: s436b(1) If appointing themselves or an associate require leave of the court: s436b(2) Narrow generally only granted where not too close a connection w company & in best interests of creditors: re depsun per young j. Broad depends on whether in public interest & administrator an appropriate person: Deputy commissioner of taxation v foodcorp pty ltd (1994)
