Malaysia legislation
Section 29
Section 29
Where foreign proceedings and proceedings under Malaysian insolvency law are taking place concurrently regarding the same debtor, the Court may seek cooperation and coordination under sections 25, 26 and 27, and the following matters shall apply:
(a)
when the proceedings in Malaysia are taking place at the time the application for recognition of foreign proceedings is filed—
(i)
any relief granted under section 19 or 21 shall be consistent with the proceedings in Malaysia;
and
(ii)
if the foreign proceedings are recognized in
Malaysia as foreign main proceedings, section 20
shall not apply;
Act 877
(b)
when the proceedings in Malaysia are commenced after the filing of an application for recognition of foreign proceedings or after recognition is granted—
(i)
any relief granted which is in effect under section 19
or 21 shall be reviewed by the Court and, if inconsistent with the proceedings in Malaysia, shall be modified or set aside;
(ii)
if the foreign proceedings are foreign main proceedings, the stay and suspension under subsection 20(1) shall be modified or set aside under subsection 20(6), if inconsistent with the proceedings in Malaysia; and
(iii)
any proceedings brought by the foreign representative under subsection 23(1) prior to the commencement of the proceedings in Malaysia shall be subject to review by the Court and the Court may give such directions as it deems fit regarding the continuance of those proceedings; and
(c)
in granting, extending or modifying any relief given to a foreign representative of foreign non-main proceedings, the Court shall be satisfied that the relief relates to—
(i)
property that, under the laws of Malaysia, should be administered in the foreign non-main proceedings; or
(ii)
information required in the foreign non-main proceedings.
Coordination in respect of more than one foreign proceedings