Student Hostel Development in Likas, Kota Kinabalu
- Role: Court Appointed Liquidator
- Appointment as liquidator: The director was appointed by the High Court to replace the Official Receiver as the liquidator for a property developer of a university student hostel in Kota Kinabalu. This involved legal proceedings and the assumption of responsibilities related to the liquidation process.
- Structuring a revival proposal: Currently involved in structuring a proposal to revive and complete a partially completed block of the student hostel. This likely involves developing a plan to complete the construction, address any legal or financial issues, and manage the disposal of remaining assets.
- Repayment to secured creditor and distribution to unsecured creditors: The proposal includes plans to repay a financial institution, which is a secured creditor, and distribute any surplus proceeds to the unsecured creditors of the developer. This involves managing the financial aspects of the liquidation, ensuring that creditors are repaid according to their priority status.