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Corporate Recovery Services

Scheme of Arrangement Pursuant to Section 176 of the Companies Act 1965 between Korakyat Plantations Sdn Bhd (In Liquidation) and the Purchasers for the Rehabilitation of Taman Perindustrian Subang Mewah.


Scheme of Arrangement in brief

The scheme of arrangement was formulated by the Liquidators of Korakyat Plantations Sdn Bhd (In Liquidation) for the rehabilitation of Taman Perindustrian Taman Perindustrian Subang Mewah via a scheme of arrangement under the provisions of Section 176 of the Companies Act 1965.

The scheme which is a compromise by the parties involved, essentially comprises the contribution of fund by purchasers to a rehabilitation account - the Escrow Account for the completion of Taman Perindustrian Taman Perindustrian Subang Mewah, the full settlement of the amount owing the chargee of the development land and consequently, its redemption.



TAMAN PERINDUSTRIAN USJ 1






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