Issues and challenges in the rehabilitation of abandoned housing projects of the liquidated housing developer companies in Malaysia: The position of the secured creditor chargee vis-a-vis the purchasers
One of the main problems in the Malaysian housing industry is the abandoned housing projects.It is evident, the Malaysian laws are inadequate to protect the interests of the stakeholders especially the purchasers in abandoned housing projects.This paper discusses the liquidation law and issues in on...
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| Format: | Conference or Workshop Item |
| Language: | English |
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2013
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| Online Access: | https://repo.uum.edu.my/id/eprint/9184/1/2.pdf |
| Summary: | One of the main problems in the Malaysian housing industry is the abandoned housing projects.It is evident, the Malaysian laws are inadequate to protect the interests of the stakeholders especially the purchasers in abandoned housing projects.This paper discusses the liquidation law and issues in one of the abandoned housing projects.The analysis of this paper finds that the secured creditor of the liquidated housing developer company even at the expense of the aggrieved purchasers' interests.Due to this, the rights of the purchasers are marginalized.In this paper also, the author suggests certain proposals to improve the current state of law governing abandoned housing projects in Malaysia in order to preserve the interest of the stakeholders. |
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