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Corporate Recovery Services (CRS)

We provide business recovery services, offering a full range of complex and routine turnaround, restructuring and insolvency assignments across many different industries.

Our investment in people and risk management procedures, combined with HLB’s specialist industry knowledge and expertise make us exceptionally well positioned to resolve some of the conflicting issues experienced.

Whether a business is looking to redress underperformance, enhance stakeholder value or resolve a crisis, our Corporate Recovery Group’s proactive, innovative and entrepreneurial approach to problem-solving has established us as a pre-eminent group of consultants and practitioners, delivering decisive, positive and commercial solutions for businesses in crisis

Our wider team includes turnaround executives who undertake hands on roles and act as Chief Restructuring Officer.

We benefit from our HLB Global network’s excellent relations with bankers, asset based lenders, trade insurers, bond holders, government departments and turnaround equity financiers.

We acknowledge and respect the varied international conflicts and cultures. We are able to support firms who on occasion are disabled by conflicts.

Credentials & track records

Landmark Cases in Insolvency Laws and Practices

In the area of formal insolvency /turnaround and restructuring/business recovery services, the firm upholds a high degree of integrity and professionalism in discharging its duties. The firm has successfully recovered debts from numerous complex assignments including:

  • Supreme Court Case of Director of Customs, Federal Territory v Ler Cheng Chye (Liquidator of Castwell Sdn. Bhd., in Liquidation) [1995]
  • Federal Court Case of K. Balasubramaniam (Liquidator for Kosmopolitan Credit & Leasing Sdn Bhd, in liquidation) vs MBf Finance Berhad, Ler Cheng Chye and Lum Tuck Cheong (Receivers and Managers for Kosmopolitan Credit & Leasing Sdn Bhd, in Liquidation) [2005]

Both cases have indeed become the binding precedents of the highest order in Malaysia’s Insolvency Law.

Insolvency Specialty – Revival of Abandoned Property Development Projects

Previously we have successfully rehabilitated three (3) major abandoned projects vide a similar Section 176 Scheme of Arrangement:

1) An abandoned industrial project comprising of 478 Light Industrial Factory units at Taman Perindutrian USJ1, Subang Jaya, Selangor

Milestone Achieved

Court Convened Meeting was held where the scheme was unanimously approved, Certificate of Fitness for Occupation was obtained and Individual Title was issued.

2) A residential project comprising of 100 condominium units at Taman Desa, Kuala Lumpur

Milestone Achieved

Court Convened Meeting was held where the scheme was unanimously approved, Certificate of Fitness for Occupation was obtained, Joint Management Body was formed, Individual Title was issued and Management Corporation was formed.

3) An residential project comprising of 175 condominium units at Block D, SAHK, Taman Sri Angsana Hilir, Ampang, Selangor

Milestone Achieved

Court Convened Meeting was held where the scheme was unanimously approved, Certificate of Fitness for Occupation was obtained, Individual Title was issued and Management Corporation was formed.

Our expertise

Receivership

Creditors' voluntary liquidation

Judicial manager

Financial monitoring

Provisional liquidation

Court liquidation

Nominee

Corporate turnaround and restructuring

Members' voluntary liquidation

Scheme manager

Project rehabilitation

Dispute resolution

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Audit Office Relocation – HPO

Audit & assurance offices have combined and moved to Hampshire Place Office  (HPO) with effect from 3 January 2023

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