KS-TF AG’s Post

This is why we do what we do. Shoutout to the excellent team of Walter A., Jerial Tan, and trainee Madelene Yu for their recent success before the Court of Appeal. In two appeals related to a significant case (attached), the team's efforts led to a substantial outcome. The team successfully resisted one appeal and significantly increased damages awarded in our own appeal from $636,000.00 to $916,000.00, along with winning costs. Walter's articulate presentation assisted the Court of Appeal in reaching a just decision. I can attest to the weeks of work that went into the hearing that lasted just three hours. After a challenging battle over the past few years, our client is finally seeing the fruits of our labor. This success marks another achievement for Silvester Legal LLC in company litigation, particularly in minority oppression cases. Hoping for a Grounds of Decision, which I will share, if published. Litigation lawyers are a unique and dedicated group, pushed to the limits during trials and appeals. The commitment to winning is paramount, and this recent victory is a testament to that dedication. #law #companylaw #commerciallitigation Link to case: https://lnkd.in/gXyM542y

📍 The CTA ruling 📍 Learn about this new ruling and how it might affect your business reporting requirements. 🔗 Read Here: https://bit.ly/4b5vb5h #BusinessLaw #FinancialRegulation #CorporateTransparency #CTA

I've dusted off my occasional blog on commercial and insolvency law and given it a snappy new name: "Fully Secured" It will continue to contain updates on PPSA issues, land security, caveats, insolvency and commercial law. The first new post is a paper and presentation I did in December on the Whittaker review with my colleague at the bar, Ned Marlowe-Weir. See the link below. https://lnkd.in/gwx7SyKD A copy of the paper and seminar powerpoint can also be found at the links in the comments

This is a friendly reminder that failing to file your BOI Report could result in penalties of $591 per day for each day it's overdue, as well as potential criminal penalties, including up to two years in prison and fines of up to $10,000. 😳 If you have an LLC, PLLC, or any other entity and need assistance or have questions about filing your BOI Report, feel free to reach out to me!

As the end of the year approaches, here's your friendly reminder for Beneficial Ownership Reporting! As part of the Corporate Transparency Act, the US Treasury announced a new mandate for all businesses to complete called Beneficial Ownership Reporting (BOI). What does it mean? Who needs to do it? When is the deadline? In this article, we answer some frequently asked questions about the mandate. https://lnkd.in/gjR75-Ea

A belated blog for September for Legal Futures returns to the hot topic of ‘Continued Competence’ The SRA issued a one year review in July highlighting areas of concern and we sre even more convinced that financial planning partners can assist than ever: https://lnkd.in/eWC2xB7e #joineduplegalandfinancial #SRA #continuedcompetence

New law as of January 2024. Must complete by January 2025

This recent Court of Appeal ruling reinforces the critical importance of clearly defined contract terms when dealing with late payments. For businesses dealing with financial disputes, it’s a powerful reminder that understanding your contractual rights is key. Don’t let late payments disrupt your business - ensure your contracts work for you 📈 Read more - https://lnkd.in/eVUjXDp5

Firms are starting to dig in to their strategies for CTA compliance now that we're back from summer holidays. Guidance like this is really helpful as Legal, Tax, and Compliance teams work to ensure their legal entity data is in good order. If you have questions about the CTA, don't hesitate to reach out - Ontra can help!

YEE VOON HON lwn. TAI BOON WEE & YANG LAIN [2023] 1 LNS 1320 How hard can it be to withdraw a suit with liberty to file afresh in a scenario where limitation has yet to set in? As it turns out, not guaranteed. To summarise, we took over conduct of a matter involving recovery of a friendly loan sum for the sum of RM4.1 million on 22.5.2022 whereby we act for the Plaintiff. For context purposes, this suit is related to another ongoing shareholders' dispute involving the same parties which was filed subsequent to the RM4.1 million suit. An application for summary judgment was filed but was dismissed on 4.8.2022, resulting in us lodging an appeal. The appeal was fixed to be heard on 19.5.2023. In the meantime, trial for the matter has been fixed on 2nd and 6th June 2023. On 19.5.2023, the Court of Appeal dismissed the appeal. This prompted the decision to seek leave to withdraw the suit with liberty to file afresh. It was the assessment then it would be more appropriate to include the RM4.1 million dispute into the shareholders' dispute suit instead as the facts are intertwined. At this point, it is highlighted that all pre-trial case management directions given were complied with. The Defendants objected to the withdrawal and insisted that such withdrawal must be without liberty to file afresh, notwithstanding that limitation has yet to set in. On 23.5.2023, the Judicial Commissioner allowed the withdrawal but without liberty to file afresh. Below summarised her findings:- • the plaintiff is seeking to avoid the contest with the defendant for the moment, seeking the discontinuance as an escape from the battle and to re-launch after improving its position. • the defendant had established a good defence to the plaintiff’s claim and that it would be prejudicial to the defendant if the plaintiff were to be granted leave to discontinue with liberty to file afresh. • to compel the plaintiff to proceed with the trial will also result in the parties having to incur additional time, expenses and costs to prepare for the same. The parties, especially the defendant, should be spared of such trouble and financial strain. • it will be prejudicial to the defendant if the plaintiff were to be permitted to discontinue the action with liberty to file afresh. The advantage that the defendant has gained will be taken away from him if the plaintiff is given a life line to overcome the deficiencies in its claims in the present action. Citation of the judgment is on the top of this post. We are pleased to inform that on 2.8.2024, our appeal against the decision of the Judicial Commissioner was allowed. The Court of Appeal unanimously agreed that the Judicial Commissioner has wrongly exercised her judicial discretion in making her order. A copy of the Court of Appeal Order is attached below. Efforts are currently being made by us to ensure CLJ puts an editorial note on the judgment stating that it has since been overturned.