Mr Wai Hong Leong

Wai Hong Leong



Landmark decision on first airline debt restructuring scheme due to COVID-19
Malaysia | 10 March 2021

The High Court recently issued a landmark decision that extensively examined the court's jurisdiction and duties when considering an application under Section 366(1) of the Companies Act 2016 for an order to convene creditors' meetings to consider and approve an arrangement scheme. The court ruled that the proposed arrangement scheme was an 'insolvency-related event' for the purposes of the Cape Town Convention's aircraft protocol.