Maisson Ara Damansara @ Petaling Jaya, Selangor
- Role: -
- Assistance to Purchaser Committee: Approached by the purchasers committee for assistance as the revival of the project was in a deadlock between the receiver and manager, a Big Four Firm appointed by a financial institution and the provisional liquidator appointed by the creditors of the company.
- Identifying a white knight: Helped identify a white knight for the project, obtain cooperation from the provisional liquidator to structure a scheme and then approached the financial institution to negotiate a settlement arrangement.
- Structuring a Scheme of Arrangement: under Section 176 of the Companies Act 1965 for the purchasers of the condominium and obtained the requisite support from the financial institution, the purchasers, the existing contractor who was reappointed by the white knight and also the contributories of the company.
- Resolving opposition and legal challenges: A former employee who claimed that the company owed him outstanding remuneration and purchasers from another project developed by the Company were entitled to their liquidated ascertained damages claims, who insisted that they be included in the scheme and their claims resolved.
- Federal Court: The matter went through protracted legal action and ultimately went to the Federal Court, where a landmark decision was made pertaining to class of creditors for a scheme of arrangement.