• Acted as co-counsel for a foreign private equity firm in a SIAC arbitration involving a dispute with BVI-incorporated company, with the parties being shareholders in a RM1 billion Malaysian company. The arbitration involved aspects of Malaysian law, Singapore law, and Cayman law. Also successfully acted as counsel in discharging the interim measure Court Order made in aid of arbitration: see WRP Asia Pacific Sdn Bhd & Anor v TAEL Tijari Partners Ltd & Ors [2019] MLJU 1244.

• Acted in an AIAC arbitration between a major shipping company and an oil and gas multinational company involving a contract for the construction and the lease of a semi-floating production system. Successfully obtained two adjudication decisions totalling claims in excess of RM1 billion. The claims being subject to the arbitration were in excess of RM2 billion.

• Acted as counsel in a SIAC arbitration for a subsidiary of a public-listed energy company in a dispute involving a charterparty.

• Acted in an ICC arbitration with the seat in Singapore involving a dispute between joint venture parties involving more than RM 56 million worth of shares.

• Acted in an ICC arbitration with the seat in Malaysia involving a dispute on the exercise of a call option for RM 30 million worth of shares.

• Acted against the Government of Laos in Court proceedings challenging an arbitral award made against Laos. The award arose from an energy dispute involving a power plant in Laos.

• Acted in an ad hoc international arbitration in London involving a claim in excess of US$22 million against an oil and gas trader.

• Acted for an American company in obtaining a Mareva freezing order in support of a foreign seat arbitration. The assets frozen totalled more than RM200 million.

• Acting for Alam Maritim Resources Berhad and its subsidiary in a scheme of arrangement and secured the Order for leave for the court convened meeting, as well as a restraining order.

• Acted as counsel for Top Builders Capital Bhd and two of its subsidiaries as part of its ongoing schemes of arrangement involving more than RM550 million of debt. Successfully obtained a restraining order and resisted leave to proceed: see Re Top Builders Capital Bhd & Ors [2021] 10 MLJ 327. Successfully obtained the sanction order and determined novel issues for scheme of arrangement law, including on discounting of related creditors’ votes, proof of debt, and virtual scheme meetings: see Re Top Builders Capital Bhd & Ors [2022] MLJU 1 .

• Acting as counsel for Boustead Naval Shipyard Sdn Bhd, a subsidiary within the Boustead Group, in its scheme of arrangement involving more than RM1 billion of scheme debt. Secured the restraining order and leave the convene the creditors’ meeting.

• Acted as counsel for two subsidiaries of the Singapore-listed Hatten Land Ltd in its schemes of arrangement. Secured restraining orders and obtained the sanction of one of the schemes of arrangement. Secured a novel Court of Appeal interim protection order pending the appeal against the dismissal of the sanction application.

• Acted for Prestariang SKIN Sdn Bhd, the subsidiary of the public-listed Prestariang Group Bhd, in its scheme of arrangement. The scheme has been sanctioned by the court.

• Acting as counsel for the judicial manager of three subsidiaries of Scomi Energy Services Bhd. Obtained orders for extensions of time for the tabling of the statement of proposal, and an order for directions for the holding of a virtual meeting. Successfully obtained an extension of the judicial management order.

• Acted as counsel for interim judicial managers of an oil and gas company and in applying for directions to clarify the powers of the interim judicial managers.

• Acted as counsel for three subsidiaries of a listed company in successfully obtaining restraining orders as part of a cross-border scheme of arrangement involving a total of nine companies.

• Acted as counsel for a scheme creditor to successfully set aside the grant of a restraining order in a proposed scheme of arrangement. The decision clarified for the first time the pre-conditions that must be met under the Companies Act 2016 for a restraining order: see Barakah Offshore Petroleum Berhad & Anor v Mersing Construction & Engineering Sdn Bhd & Ors [2019] 3 AMR 673.

• Acted for three Malaysian subsidiaries of a foreign-listed company in applying for judicial management.

• Acted as counsel in a cross-border debt restructuring of a distressed Singapore public-listed shipbuilding company and its Malaysian subsidiaries involving three schemes of arrangement. The scheme debts were more than RM1 billion.

• Acted for scheme creditors in schemes of arrangement in opposing restraining orders and opposing the schemes of arrangement totalling more than RM1 billion ringgit in scheme liabilities.

• Acted as co-counsel for a foreign bank in bringing the first-ever oppression action brought by a debenture holder: see The Bank of Nova Scotia Bhd & Anor v Lion DRI Sdn Bhd & Ors [2021] 2 CLJ 400.

• Acted as counsel for a major foreign solar company and successfully obtained the first-ever recognition in Malaysia of a universal successor company arising from a merger of foreign companies: see United Renewable Energy Co Ltd v TS Solartech Sdn Bhd [2020] 7 MLJ 141.

• Acted in a shareholders’ dispute among shareholders of a bank. Disputes arose from the shareholders’ agreement and on the re-election of directors. We successfully resisted the claim for declaratory orders and injunctions and stayed the claim pending arbitration: see RUSD Investment Bank Inc & Ors v Qatar Islamic Bank & Ors [2015] 1 LNS 231.

• Acted in a shareholders’ dispute involving an oppression petition filed on behalf of the aggrieved shareholder. We successfully applied for interlocutory orders to restrain the passing of certain resolutions at a general meeting of the shareholders.

• Acted in a just and equitable winding up petition to resist the petition. The petitioning shareholder applied for an ex parte appointment of a provisional liquidator. We successfully set aside the ex parte Order.

• Acted for the majority shareholder in resisting an oppression petition filed arising from a dispute among the shareholders who were all members of the same family. The oppression petition hearing proceeded by way of cross-examination of deponents.

• Acted as counsel in successfully applying for the appointment of interim receivers and managers in an oppression petition in order to protect the assets of the company from being disposed of by the impugned Liquidator. Succeeded at the High Court and Court of Appeal for orders under the oppression petition: see Drico Ltd v Drico (Water Specialist) Sdn Bhd & Ors [2011] 1 LNS 488, [2013] 1 LNS 1297.

• Acted as counsel in opposing an application for a declaration that the removal of certain directors was void, which included a determination of whether a physical shareholder meeting was required in order to remove directors: see Dato’ Low Tuck Choy & Anor v Chong Kok Weng & 4 Ors [2009] 1 LNS 964.

• Acted as counsel for a German chemicals company in securing Malaysia’s first-ever persons unknown injunction in the form of a Mareva freezing injunction and proprietary injunction against unknown fraudsters. The court also allowed substituted service of court papers by way of email and a Dropbox link: see Zschimmer & Schwarz GmbH & Co KG Chemische Fabriken v Persons Unknown & Anor [2021] 7 MLJ 178; [2021] 4 CLJ 446.

• Subsequently, acted as counsel to obtain Malaysia’s first-ever self-identification Order or Spartacus Order against persons unknown: see Zschimmer & Schwarz GmbH & Co KG Chemische Fabriken v Persons Unknown & Anor (No 2) [2021] 3 CLJ 587.

• Acting for liquidators of a wound-up listed company and with allegations and investigations concerning fraud and fictitious invoices in the hundreds of millions of ringgit.

• Acting for a subsidiary of a public-listed Japanese company in the investigation, and the litigation for the recovery of the proceeds of fraud exceeding RM170 million. Led a team of forensic experts, intelligence companies, and foreign lawyers. The litigation has involved obtaining urgent freezing and search orders in Malaysia and abroad, Bankers Trust discovery orders to obtain banking information, and the initiation of committal proceedings. We also assisted the client in the criminal proceedings that ran in parallel. Presenting acting as counsel at the civil trial. See Toyota Tsusho (Malaysia) Sdn Bhd v Foo Tseh Wan & Ors [2018] MLJU 708.

• Acted for a public-listed company in a dispute involving fraudulent inventory and valuation in its multi-million ringgit acquisition of a company. There was also parallel foreign arbitration proceedings arising from the sale agreement.

• Acted for a major palm oil producer based in the Australasia region in investigating a cross-border fraud involving freight rates. It involved leading and working with a team of global forensic experts, intelligence companies and foreign lawyers. The investigation and legal issues spanned several jurisdictions, including England and Singapore.

• Acted for a European company that invested in a joint venture company in Malaysia. Worked with forensic accountants to investigate the wrongdoings, fraud and related party transactions carried out by the company’s managing director. Initiated various civil recovery, a derivative action and discovery actions against the co-conspirators.

• Acted for an American company in obtaining a Mareva freezing order in Malaysia support of a foreign seat arbitration. The assets frozen totalled more than RM200 million. The dispute arose from a penny stock crash that wiped out more than US$5 billion from a foreign stock market.

• Assisted in the Port Klang Authority (PKA) Special Task Force to assess the issues arising from the Port Klang Free Zone (PKFZ) audit report on the PKFZ project and to give its recommendations on how to right the wrongs and pursue appropriate legal remedies.

• Acted in an AIAC arbitration between a major shipping company and an oil and gas multinational company involving a contract for the construction and the lease of a semi-floating production system. Successfully obtained two adjudication decisions totalling claims in excess of RM1 billion. The claims being subject to the arbitration were in excess of RM2 billion.

• Acting in a domestic arbitration involving an oil & gas company and a service provider in relation to a dispute involving pipelines.

• Acted for a East Malaysian energy company in its shareholder dispute for the just and equitable winding up of a joint venture company.

• Acted as counsel for a subsidiary of a national oil and gas company in a suit against an Italian company and the subsidiary of a public-listed company. The sum involved was more than RM200 million. The dispute arose out of agreements relating to an EPCC contract for pumping facilities in Sudan. We succeeded at trial in obtaining judgment. See: Malaysian International Trading Corp (Japan) Sdn Bhd v Bentini SPA & Ors [2014] 11 MLJ 255.

• Acted for a major oil and gas company in an arbitration relating to a drilling rig contract and a call on a bank guarantee under the contract.

• Advised a public-listed shipping company in a dispute relating to a FPSO contract.

• Advised a subsidiary of a major oil and gas company in a contract relating to an Extended Well Test vessel.

• Acted for a major oil and gas company in relation to a dispute on a gas pipeline contract.

• Acted as counsel for the Malaysian securities regulator in successfully resisting a judicial review challenge in relation to the revocation of a fund management firm’s Capital Markets Services License. The matter is now pending before the Court of Appeal. For the High Court decision: see VCB Capital Sdn Bhd v Suruhanjaya Sekuriti Malaysia [2022] MLJU 24.

• Acted as counsel for the Malaysian securities regulator in successfully resisting the High Court judicial review challenge brought by an auditor. We successfully acted in opposing the appeal at the Court of Appeal. See: Andrew Heng v Suruhanjaya Sekuriti Malaysia [2021] MLJU 864.

• Acting as counsel for the Malaysian securities regulator in resisting a judicial review application filed by a public-listed company.

• Acted for the Malaysian securities regulator in the High Court and the Court of Appeal to successfully oppose a judicial review application to stay inquiry proceedings against an auditor: see Lee Kok Wai & Anor v Securities Commission Malaysia [2015] 4 CLJ 260. Subsequently acted for the securities regulator in the Court of Appeal to strike out a suit based on the Whistleblowers Protection Act 2010.

• Acted for the Malaysian stock exchange and appeared in the Court of Appeal in successfully upholding the stock exchange’s enforcement decision for a fine and for the former directors of a public listed company to return RM16 million in monies: see Tengku Dato’ Kamal Ibni Sultan Sir Abu & Ors v Bursa Malaysia Securities Bhd & Another Appeal [2012] 8 CLJ 678.

• Acted for the Malaysian derivatives exchange in successfully striking out a RM3 million action based on alleged negligence: see Fima Palmbulk Services Sdn Bhd v Bursa Malaysia Derivates Berhad [2009] MLJU 757.

Qualifications

• Advocate & Solicitor, High Court of Malaya (2005)

• Barrister-at-Law (Gray’s Inn) (2004)

• LL.B., University of Bristol (2003)

Professional Affiliations

• Sole Malaysian member of ICC FraudNet

• Council member, Insolvency Practitioners Association of Malaysia (IPAM)

• Committee member, INSOL International Small Practice Group

• Member, Insolvency Practice Committee of MIA

• Member, Insolvency Practice Committee of MICPA

• Associate Member, CIArb

Lee Shih is the co-author of the book ‘Companies Act 2016: The New Dynamics of Company Law in Malaysia’, authored the chapter on ‘Companies & Securities’ in Bullen & Leake & Jacob’s Malaysian Precedents of Pleadings, and authored the chapter on ‘Cross-Border Insolvency’ in Law and Practice of Corporate Insolvency in Malaysia. He speaks regularly on company law, corporate insolvency, international arbitration and on fraud. He is also the co-founder and writes at themalaysianlawyer.com.

Arbitration

• Co-author, Malaysia chapter for Encyclopedia of International Commercial Litigation, Wolters Kluwer, 2020.

• Author, Arbitration and Liquidation: Never the Twain Shall Meet?, Chartered Institute of Arbitrators, Malaysia Newsletter, 2015.

• Author, The Case for Indemnity Costs in Opposing Arbitral Awards, MIArb Newsletter, 2013.

• Author, Satellite Wars: a commentary on the Astro v Lippo arbitration, 2013.

• Author, Polar Opposites: Setting Aside Arbitral Awards, Chartered Institute of Arbitrators, Malaysia Newsletter, 2012.

Corporate and Commercial Litigation

• Co-author, ‘Companies Act 2016: The New Dynamics of Company Law in Malaysia’, (2017, CLJ).

• Author, the chapter on Companies & Securities, Bullen & Leake & Jacob’s Malaysian Precedents of Pleadings, (2017, Sweet & Maxwell).

• Co-author, Of Universal Application: Recognition of the Doctrine of Universal Succession, Mondaq, 2020.

• Co-author, Division of Powers between Shareholders and Directors, Mondaq, 2018.

• Author, The Companies Act 2016: Key Changes and Challenges, Journal of Malaysian Comparative Law, 2017.

• Author, Crucial Areas of Companies Act 2016, Focus Malaysia, 2017.

• Author, Minority Shareholders’ Remedies: How to Slay the Dragon, The Malaysian Reserve, 2017.

• Author, Convening General Meetings: Forcing Suffrage to End Suffering, International Law Office, 2011.

Restructuring and Insolvency

• Author, Malaysia report for INSOL International-World Bank Group Global Guide: Measures adopted to support distressed businesses through the COVID-19 crisis, 2020.

• Author, Corporate rescue reforms in the proposed Companies (Amendment) Bill 2020, The Edge Malaysia, 2020.

• Author, COVID-19: Malaysia stays ahead of the curve with temporary winding-up protection for companies, The Edge Malaysia, 2020.

• Author, COVID-19 Crisis: Restructuring and Rescue Options for Businesses, The Edge Malaysia, 2020.

• Author, Chapter on Cross-Border Insolvency, Law and Practice of Corporate Insolvency in Malaysia (2019, Sweet & Maxwell).

• Author, The Scheme of Arrangement and Corporate Rescue Framework in Malaysia, INSOL World 1st Quarter 2019.

• Author, Malaysia chapter, Getting the Deal Through: Restructuring and Insolvency 2018, 2017 and 2016.

• Co-author, The Game of Loans: The Corporate Insolvency Changes under the Companies Act 2016, The Malaysian Accountant, 2017.

• Author, A Sea Change: How Hanjin’s Crossborder Insolvency May Dock in Malaysia, The Malaysian Reserve, 2016.

• Author, The MAS Administration Bill: Malaysia Airlines to Soar Again?, The Malay Mail Online, 2014.

Fraud and Asset Recovery

• Author, Persons Unknown: Asset Recovery against Unknown Fraudsters in a Time of Cyber Fraud, Accountants Today, 2021.

• Author, ICC FraudNet Assisting Fraud Victims in Times of COVID-19, Malaysia chapter, 2020.

• Author, MACC Amendment Bill introduces corporate liability for corruption offences, theSun Daily, 2018.

• Author, Protect Your Company from Fraud, Accountants Today, 2018.

• Author, Getting Away with Fraud: Defraud the Subsidiary?, 2015.

Presented the following talks:
Arbitration

• Speaker, Enforcement of Arbitral Awards in Asia: Theory & Practice – Part 5: Malaysia, SIAC Academy, 2021.

• Speaker, Mysteries of International Arbitration: Unlocking the Secrets to an Effective and Efficient Arbitration, SIAC Talk, 2019.

• Speaker, Mysteries of Legal Professional Privilege, Essex Court Chambers Talk, 2019.

• Speaker, YPG KLRCA – Young SIAC Advocacy Workshop, 2017.

• Speaker, ‘Enforcing Arbitral Awards and Foreign Judgments in Malaysia’, Centre for Cross-Border Commercial Law in Asia seminar in Singapore, 2017.

• Speaker, ‘May the Odds Be Ever in Your Favour’, Herbert Smith Freehills arbitration seminar, 2015.

• Co-speaker, ‘How to Avoid Pitfalls and Prepare for International Arbitration’, Skrine International Arbitration Day.

Corporate and Commercial Litigation

• Speaker, Capital Markets Development Programme, Securities Industry Development Corporation (SIDC).

• Speaker, The Independent Director: The Missing Piece?, Centre for Islamic Banking, Finance and Management (CIBFM), 2020.

• Speaker, Corporate Responsibilities: The Place of Fiduciary Obligations, International Malaysia Law Conference, 2018.

• Speaker, SIDC seminar on Deep Dive into Corporate Governance Cases in Malaysia, 2018.

• Speaker, Changes in the Listing Requirements Post-Companies Act 2016, organised by SIDC, 2018.

• Presenter, a talk on Injunctions in the Corporate and Commercial Sector, Legal Plus conference, 2017.

• Speaker, on the Companies Act 2016, MAICSA Symposium, 2016.

• Speaker, on the Companies Act 2016, MIA International Accountants Conference, 2016.

• Speaker, at the Companies Commission of Malaysia National Conference 2015.

Restructuring and Insolvency

• Speaker, ASEAN and Trends in the Development of Global Restructuring Regimes, INSOL Singapore 2019.

• Associate Speaker, on winding up, receivership and corporate rescue with the Companies Commission of Malaysia Training Academy (COMTRAC).

• Speaker, on a judicial management case study, MIA-IPAM-MICPA Malaysia Insolvency Conference 2018.

• Speaker, ‘Enforcement in the Face of Insolvency and Solutions’, Singapore Insolvency Conference 2018.

• Speaker, INSOL International Kuala Lumpur seminar, 2017.

• Associate speaker, on Closing of Companies and Limited Liability Partnerships, Companies Commission of Malaysia, 2017.

• Presenter, a talk on judicial management, SSM National Insolvency Conference, 2016.

• Speaker, 2nd Regional Insolvency Conference 2014, organised by the Law Society of Singapore, Singapore.

Fraud and Asset Recovery

• Speaker, Catch Me If You Can: Chasing Fraudsters Across Borderless Cyberspace, Law Society of Singapore, 2021.

• Speaker, Recent Cases in Civil Fraud Litigation: Hong Kong, Malaysia and Singapore, Law Society of Singapore and Malaysia Bar Council, 2021.

• Moderator, Cross-Border Asset Recovery Strategies for Insolvency Practitioners, Malaysia Insolvency Conference 2019.

• Speaker, Asset Recovery Asia Conference in Singapore, 2019.

• Speaker, Claims involving Companies and Misdirected Funds or Opportunities, Malaysia Bar Council, 2019.

• Speaker, To Catch a Thief: Legal Strategies, Malaysian Institute of Accountants Forensic and Fraud Conference 2018.

Lee Shih is described in the legal directories as “a superb tactician”, “well regarded for his expertise in company law, as well as restructuring and insolvency cases”, “deeply knowledgeable international arbitration and insolvency specialist” and that he “never fails to deliver high-quality advice in his trade mark disarming fashion.”

• Described as “a superb tactician.” – Chambers Asia-Pacific 2022.

• “Lee Shih has a robust practice acting on contentious restructuring, as well as shareholder disputes. He handles cases in a range of sectors, including energy and finance.” – Chambers Asia-Pacific 2021.

• “Lee Shih provides clear and succinct legal advice. He knows how to make his clients understand despite the complexity of the matter. He also provides a personalised service to clients. He’ll always available when you need him and in terms of cost he’ll ensure clients receive the best value for service. He also understands the client’s business very well and always find the best solution. His legal analysis and risk identification usually help clients make the right decision.” – Legal 500 Asia-Pacific 2021.

• Listed in the Asia Business Law Journal A-list of Malaysia’s Top 100 Lawyers. Praised for being “very knowledgeable, resourceful and dynamic, and providing practical strategy, particularly on restructuring and insolvency issues. With Lee Shih, we always feel safe and in good hands. Neat and niche are a true description of him.”

• “Lee Shih is a rising star and a confident advocate, who gives sound commercial advice.” – Legal 500 Asia-Pacific 2020.

• Ranked in Band 4 in Dispute Resolution in Chambers Asia-Pacific 2018 – 2022.

• Awarded Rising Star of the Year at the Benchmark Litigation Asia-Pacific Awards 2020.

• Listed as a “Future Star” in Benchmark Litigation Asia-Pacific 2018-2020.

• “Lee Shih has expertise in restructuring and insolvency cases, including in relation to schemes of arrangement, as well as general commercial disputes. He has experience in both litigation and arbitration, acting for Malaysian and international companies.” – Chambers Asia-Pacific 2020.

• “Lee Shih is especially well regarded for his expertise in company law, as well as restructuring and insolvency cases” – Chambers Asia-Pacific 2019.

• “very dynamic, charismatic and sharp” – Chambers Asia-Pacific 2019.

• “Deeply knowledgeable’ international arbitration and insolvency specialist Lee Shih ‘never fails to deliver high-quality advice in his trade mark disarming fashion’.” – Legal 500 Asia-Pacific 2019

• “Very commercially minded and charismatic lawyer who grasps concepts straight away and is also very likeable” – Chambers Asia-Pacific 2018.

• Ranked as an Up-and-Coming lawyer in Chambers Asia-Pacific 2014 – 2017 for dispute resolution.

• “Lee Shih practices in both arbitration and litigation, regularly acting on cross-border disputes. He focuses closely on shareholder disputes and insolvency cases.” – Chambers Asia-Pacific 2017.

• “talented and client-friendly” – Legal 500 Asia-Pacific 2017.

• “an impressive up and coming lawyer” – 9th edition of the Global Arbitration Review (GAR) 100 (2016).

• “a safe pair of hands” – 9th edition of the Global Arbitration Review (GAR) 100 (2016).

• “making an excellent name for himself in litigation, particularly for corporate and insolvency litigation and international arbitration” – Chambers Asia-Pacific 2015.

• “the next generation of talented individuals: a forceful advocate in terms of intellectual prowess and punching well above his weight in terms of his level of seniority” – Chambers Asia-Pacific 2014.

• “diligent and indefatigable, and a name to watch for the future” – Legal 500 Asia Pacific 2014.

• “a name to watch for the future” – Legal 500 Asia Pacific 2013.