Corporate Insolvency Laws In Abandoned Housing Projects Issues And Prospects Uum Press

This book discusses the provisions and legal principles under the Insolvency Law in Malaysia in face of the issue of abandoned housing projects and its rehabilitation. Apart from the Malaysian Insolvency Law, this book also analyses comparatively between the insolvency legal provisions and legal principles under the United Kingdom and Singapore Insolvency Laws. The approach of this book is by way of legal analyses over the relevant insolvency legal provisions in Malaysia, the United Kingdom and the Republic of Singapore. The discussion is further enriched and collaborated by the case studies conducted over several abandoned housing projects in Malaysia that have been subject to the insolvency administration. In addition, the author also provides relevant official statistics and reports of abandoned housing projects and numerous examples of abandoned housing project cases illustrating the diverse problems, complications, issues and grievances. The outcome and proposals of this book will be beneficial to the legal practitioners, judicial and legal services, insolvency practitioners, housing developers, financial institutions, contractors, housing consultants, technical agencies, land and state authorities, purchasers of units in abandoned housing projects, consumers’ associations, relevant private and government agencies and Federal and States Ministries, students and policy makers in the insolvency legal administration in Malaysia, particularly for those who are directly involved in abandoned housing projects and its rehabilitation in Malaysia.

Understanding of the philosophy and theory behind the law is significance to law makers, legal practitioners, academicians and laymen. The rationales are to have some understanding of public policy and the real aim of the laws that made up particular practices or the root of practices. Therefore, this book highlight selected philosophy and theory of laws in the area of commercial, financial and corporate law; medical law; constitutional and administrative law and lastly human resource law. The massive information and knowledge in this book will benefits law makers, legal practitioners, academicians, universities students in understanding the philosophy and theory of the law first, before appreciating and applying the substantive law in their profession and life.

Abandoned housing project is one of the housing problems in Peninsular Malaysia. Even though there are laws and policies provided by the Malaysian Government to control the housing industry, the abandoned housing project is still an unsettled issue for the Malaysian Government to tackle. The real victims are the purchasers themselves. There is virtually no standard common way to face the problems of abandoned housing projects. Likewise, there is no similar specific method to deal with the rehabilitation of abandoned housing projects. This is due to the fact that in every abandoned housing project and its rehabilitation, the problem and issues faced by the stakeholders vary. Thus different methods are used to deal with the problems, especially to rehabilitate the projects. If the project is not variable for rehabilitation, the project will be stalled forever without any prospects for rehabilitation, to the detriment of the purchasers. This book discusses the law and practice in rehabilitating abandoned housing project in Peninsular Malaysia. Certain suggestions are also provided in this modest book for facing the problems of abandoned housing projects and their rehabilitation in Peninsular Malaysia and for the betterment of the housing industry in Peninsular Malaysia.

Abandoned housing projects is one the major problems in housing industry in Peninsular Malaysia. The reasons leading to this problem are many. This catastrophe has caused multifarious problems to the stakeholders, particularly the purchasers who become the aggrieved parties. To date, there is no effective and once-and-for-all means to face the problems of abandoned housing projects. One of the factors which causes abandonment of housing projects in Peninsular Malaysia, is the lack of political will on part of the government to adopt an affirmative better housing delivery system such as the ‘full build then sell system’ and the introduction of a housing development insurance to face the problems of housing abandonment. This book provides in-depth analyses of the terms and conditions of the statutory standard sale and purchase agreements as enshrined in Schedules G, H, I and J of the Housing Development (Control and Licensing) Regulations 1989. The objective of this book, among others, is to identify the weaknesses of the terms of the agreements, if any, which may have contributed to the problem of abandoned housing projects and their consequential troubles. As comparative analyses, the terms and conditions of the sale and purchase agreements as applicable and enforced in the Republic of Singapore and New South Wales, Australia, are chosen. The purpose of these comparative analyses is to find the terms and conditions in these foreign jurisdictions’ agreements which can be learned and adopted in the statutory standard sale and purchase agreements (Schedules G, H, I and J). It is also for the betterment of the Malaysian housing industry as a whole, and to protect the interests of the stakeholders, in particular the purchasers as against the problems of housing abandonment and its consequences.

Since 1980, the number of people in U.S. prisons has increased more than 450%. Despite a crime rate that has been falling steadily for decades, California has led the way in this explosion, with what a state analyst called "the biggest prison building project in the history of the world." Golden Gulag provides the first detailed explanation for that buildup by looking at how political and economic forces, ranging from global to local, conjoined to produce the prison boom. In an informed and impassioned account, Ruth Wilson Gilmore examines this issue through statewide, rural, and urban perspectives to explain how the expansion developed from surpluses of finance capital, labor, land, and state capacity. Detailing crises that hit California’s economy with particular ferocity, she argues that defeats of radical struggles, weakening of labor, and shifting patterns of capital investment have been key conditions for prison growth. The results—a vast and expensive prison system, a huge number of incarcerated young people of color, and the increase in punitive justice such as the "three strikes" law—pose profound and troubling questions for the future of California, the United States, and the world. Golden Gulag provides a rich context for this complex dilemma, and at the same time challenges many cherished assumptions about who benefits and who suffers from the state’s commitment to prison expansion.

Vanessa Finch provides an interesting look at corporate insolvency laws and processes. She adopts an interdisciplinary approach to place two questions at the centre of her discussion. Are current UK laws and procedures efficient, expert, accountable and fair? Are fundamentally different conceptions of insolvency law needed for it to develop in a way that serves corporate and broader social ends? Topics considered in this wide-ranging book include different ways of financing companies, causes of corporate failure and prospects for designing rescue-friendly processes. Also examined are alternative asset distribution of failed companies, allocations of insolvency risks and effects of insolvency on a company's directors and employees. Finch argues that changes of approach are needed if insolvency law is to develop with coherence and purpose. This book will appeal to academics and students at advanced undergraduate and graduate level, and to legal practitioners throughout the common law world.