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Indemnity Clauses In Share Sale Transactions

Azmi & Associates | January 7, 2021

Introduction One of the most heavily negotiated clauses in a share sale agreement (“SSA”) is indemnity clause. The parties to the SSA can agree on the most fundamental thing, including the purchase price, from day one but a clause that seems like just a boilerplate to an agreement – indemnity clause – may take months …

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Corporate Liability Provision Under Section 17A MACC Act 2009 and Why It Matters to You

Azmi & Associates | January 7, 2021

The Malaysian Anti-Corruption Commission Act 2009 (MACC Act) has been amended, among others, to introduce corporate liability provision for bribery and corruption under Section 17A, which will come into effect on 1st June 2020.

The Right to Sue Directors for Causing Wrongful Loss Towards the Company

Azmi & Associates | January 7, 2021

Introduction A company director is appointed to manage the day-to-day business activities and finances and to ensure all statutory obligations are met. As a director, the appointed person shall manage all the business affairs of the company, with a view to promote, not his own interests, but to give his best judgment in the interests …

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Corporate Fraudulent Misrepresentation: Undoing the Done?

Azmi & Associates | January 6, 2021

Introduction Today, businesses are blooming in line with the globalization of trade. However, let’s face it. The advancement and expansion of business opportunities have triggered greater competition, forcing the players in the industry to be more innovative to survive and remain as competent players in the industry. More often than not, business engagements and corporate …

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Looking back at GDPR matters in 2020

Holst, Advokater | January 5, 2021

2020 is drawing close to an end, and also in terms of the GDPR, it is a fact that COVID-19 has taken up massive attention. New questions arose, to which answers were needed, e.g.: Is it allowed for an employer to register data about COVID-19? Is it allowed to transfer data about COVID-19? Where can …

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GDPR decisions – December 2020

Holst, Advokater | January 5, 2021

Danish municipality reported to the Police and is facing EUR 6,700 fine The Danish Data Protection Agency (the DPA) has reported the municipality of Guldborgsund to the Police and recommended a fine of EUR 6,700 (DKK 50,000) since the municipality failed to act with necessary alertness in connection with a security breach.

GDPR decisions – November 2020

Holst, Advokater | January 5, 2021

The Irish DPA fines Tusla Child and Family Agency EUR 75,000 In May 2020, the Tusla Child and Family Agency (Tusla) was imposed with an administrative fine of EUR 75,000, which has now been heard and confirmed by an Irish court of law.

Sweeping Changes to the Korean Criminal Procedures Starting in the New Year

Lee & Ko | January 5, 2021

A series of legislations affecting the criminal law landscape in Korea have been enacted since the end of 2019 e.g., ‘Corruption Investigation Office for High-Ranking Officials Act’, ‘Prosecutor’s Office Act’ and ‘Criminal Procedure Act’, followed by the establishment of subsidiary laws and regulations. In addition, with the passage of the amendment bill of ‘High-Ranking Official’s …

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Fiduciary Duty Of Trustees Under Malaysian Law

Azmi & Associates | January 4, 2021

Being a trustee is not merely having the powers to administer the property of a trust fund, but it comes with a wider scope of duties and responsibilities. As much as directors have fiduciary duties in exercising their directorship in managing a company, similarly, trustees also owe fiduciary duties towards the beneficiaries of the trust …

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Overview Of Artificial Intelligence In Malaysia

Azmi & Associates | January 4, 2021

Overview Of Artificial Intelligence In Malaysia Introduction The Fourth Industrial Revolution is upon us! It is described as the current and developing environment in which disruptive technologies and trends such as robotics, virtual reality (VR) and artificial intelligence (AI) are changing the way we live and work. AI may seem like a futuristic concept, however, …

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