Nicholas Hor & Co

Hold Directors Personally Liable for Siphoning of Assets __________________________________________________________________________________ Key Takeaways • The principal legal tool in Malaysia is  Section 540 of the CA 2016 , which allows the corporate veil to be lifted in cases of  fraudulent trading . • To succeed, you must prove the company’s business was carried on with intent to defraud creditors, and the defendants were  knowingly a party  to this fraudulent conduct. •