Malaysia legislation
Section 184
Section 184
(2)
The proposal of the conservator or any modification to the proposal under section 187 may include any provision as the conservator thinks fit.
Malaysia Deposit Insurance Corporation 187
(3)
Without prejudice to the generality of the foregoing provisions, the proposal may include provisions for—
(a)
a compromise or arrangement between the affected person and its creditors or any class of them or between the affected person and its shareholders or any class of them or between the affected person and its debtors or any class of them;
(b)
the alteration or reduction of all or part of the share capital of the affected person;
(c)
the sale of all or part of the undertaking or asset of the affected person;
(d)
the transfer to any company of the whole or any part of the undertaking, asset or liabilities of the affected person;
(e)
the continuation by or against the company referred to in paragraph (d) of any legal proceedings pending by or against the affected person;
(f)
the winding up or dissolution without winding up of the affected person; or
(g)
any other provision necessary to ensure that the conservator’s proposal or plan or any compromise, arrangement, reconstruction or amalgamation with respect to the affected person shall be fully and effectively carried out.
(4)
The Corporation shall consider the proposal submitted by the conservator and, not later than thirty days after the submission of the proposal or such longer period as may be permitted by the Minister, approve or reject the proposal.
Secured creditors’ meeting