Malaysia legislation
Section 25
Section 25
Criteria for appointment of Special Administrator
The Corporation may recommend the appointment of a Special
Administrator under section 23 or 24 if the Corporation is satisfied
34 Laws of Malaysia that it would serve public interest to do so or if the Corporation is satisfied that—
(a)
the primary affected person—
(i)
is unable or likely to be unable to pay its debts; or
(ii)
is unable or likely to be unable to fulfil its obligations to its creditors;
(b)
the survival of the primary affected person and the whole or any part of its assets as a going concern may be achieved;
(c)
a more advantageous realization of the primary affected person’s assets may be achieved than on a winding up; or
(d)
the appointment may achieve a more advantageous realization or a more expeditious settlement of a duty or liability owed by any person to the Corporation or any subsidiary of the Corporation, whether future, present, vested or contingent.
Appointment of Special Administrator