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- W149750508 abstract "Abandoned housing projects are one of the mainproblems in the housing industry in Peninsular Malaysia.Even though the Malaysian government has provided laws and policies to govern the housing industry to protect the interests of all parties in the industry, yetthe problem of abandoned housing projects is still an unsettled issue until today.The real victims are the purchasers themselves.Usuallywhen a housing developer company is under receivership, the affairs and business of thecompany are taken over by the appointed receiver and manager, pursuant to the terms in the deed of debentures. The receiver and manager may rehabilitate the abandoned projects left by the housing developer companies, if the projects are viable forrehabilitation, with the approval of the debenture holders.Otherwise,if the project is not viable, particularly because there are insufficient funds to run the intended rehabilitation or the problems relating tothe abandoned housing projects are too great to settle, the project may be stalled foreverwithout any prospect for rehabilitation, tothe detriment of the purchasers.This article discusses the law and practice in the rehabilitation of abandoned housing projects in Peninsular Malaysia of the housing developer companies, under receivership.Thiswriting finds that there are certain lacunae inthe law and practice in dealing withthe problems of abandoned housing projects particularly in respect of rehabilitatingthe projects and protecting the purchasers' rights and interests.Further, it is submitted that the recent proposed amendments to the Housing Development (Control and Licensing Act 1966 (Act 118) and the Corporate Law Reform Committee's (CLRC recommendations also are still inadequate to face the problemsof abandoned housing projects.In the final part of this article the author proposes certain suggestions for facing the problemsof abandoned housing projects of the housing developer companies under receivership and their rehabilitation in Peninsular Malaysia in order to improve the law and practiceregulating housing industry against abandonment of housing projects in Peninsula Malaysia." @default.
- W149750508 created "2016-06-24" @default.
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- W149750508 creator A5087705016 @default.
- W149750508 date "2019-01-01" @default.
- W149750508 modified "2023-09-27" @default.
- W149750508 title "Rehabilitation of Abandoned Housing Projects of Housing Developer Companies under Receivership in Peninsular Malaysia: Some Salient Issues and Suggestions" @default.
- W149750508 doi "https://doi.org/10.2139/ssrn.3392993" @default.
- W149750508 hasPublicationYear "2019" @default.
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