On 12.5.2023, our Edward Kuruvilla and Alden Yeoh presented the topic “An Overview of Stakeholders Agreements & Consequences of Breach” at a seminar organised by the Kuala Lumpur Bar, Corporate and Conveyancing Practice Committee at the KL Bar Auditorium.
The following points were discussed:
The definition of "Stakeholding"
Who can be a Stakeholder
What can be the subject matter of a Stakeholding arrangement
Whether a Stakeholding arrangement can arise in the absence of an express written Stakeholding agreement
Examples of how the Courts have interpreted whether the terms of release have been satisfied (and whether the Stakeholder is in breach of the terms of Stakeholding for refusing to release or for a premature release of the subject matter of the Stakeholding)
What are the nature of duties owed as a Stakeholder and to whom are these duties owed
What are the potential liabilities of a Stakeholder
What options are available to a Stakeholder in the event the Stakeholder is unsure whether the terms of release have been met
After concluding the presentation, the participants in attendance had the opportunity to pose questions and to seek the speakers' views on the discussed issues.
We would like to thank the Kuala Lumpur Bar, Corporate and Conveyancing Practice Committee and the Kuala Lumpur Bar Secretariat for the invitation to present on this topic.