Lee Shih Partner

Contact
T +603 2081 3999 ext 868
E LS@skrine.com
 

Overview


Lee Shih acts in cross-border disputes and has appeared in international arbitrations in Asia and Europe. He has acted in arbitrations involving disputes from commercial contracts, offshore construction contracts, and oil & gas matters.

His work also focuses on corporate litigation and corporate insolvency. He has acted as lead counsel in a variety of shareholder disputes, involving just and equitable winding up, oppression actions and derivative actions. He has acted for clients in bringing claims against directors for breaches of fiduciary duties. 
 
He also advises and acts in liquidations, schemes of arrangement, receivership and corporate rescue matters. He is regularly instructed to act for liquidators and receivers.

 

Key Practice Areas

  • International Arbitration
  • Company Law and Shareholders’ Disputes
  • Restructuring and Insolvency
  • Fraud and Asset Recovery
  • Oil & Gas, and Energy Disputes
  • Regulatory Enforcement
  • Commercial Litigation and Arbitration
 

  • Presently acting 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 present claims being subject to the arbitration is in excess of RM2 billion.
  • 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.

  • 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 where we filed an oppression petition 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 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.
  • Successfully acted for a scheme creditor to set aside a restraining order obtained by a public-listed oil and gas company and its subsidiary. This decision clarified the interpretation of the provisions for the grant of a restraining order under the Companies Act 2016: see Barakah Offshore Petroleum Berhad & Anor [2019] 3 AMR 673; [2019] MLJU 338.
  • Acting for receivers and managers. Applications were injunctions and stays were taken out against the receivers and managers. The company also applied for a judicial management order with the moratorium restraining the receivers and managers.
  • Acted at trial for former receivers and managers of a company in successfully opposing a suit brought by the company seeking among others, damages of RM1.28 billion based on a purported wrongful appointment of the receivers and managers: see Bistari Land v Malayan Banking Berhad & ors and other cases [2011] 1 LNS 1501.
  • Acted for scheme creditors in schemes of arrangement in opposing restraining orders and opposing the schemes of arrangement totalling more than a billion ringgit in scheme liabilities.
  • Acted for provisional liquidators of a delisted public-listed company in resisting/defending multiple applications for restraining orders and other mandatory orders filed by various creditors and shareholders seeking to compel the company/provisional liquidators to take specific steps pursuant to different proposed schemes of arrangement. 
  • Acted as lead counsel for directors of a wound up company and successfully opposed a committal application for an alleged breach of the winding up Order and to successfully oppose an action for fraudulent trading brought against the directors.

  • Acting for a major shipping company in an ongoing arbitration and adjudication proceedings 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 present claims being subject to the arbitration is in excess of RM2 billion.
  • 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.

  • Presently acting for a subsidiary of a public-listed Japanese company in the investigation, and the litigation for the recovery of the proceeds of fraud. Presently leading a team of forensic experts, intelligence companies, and foreign lawyers. The litigation has involved obtaining urgent freezing and search orders in Malaysia and abroad, discovery orders to obtain banking information, and the initiation of committal proceedings.
  • 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.
  • 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 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.
  • 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.

Qualifications:
  • Advocate and Solicitor, High Court of Malaya (2005)
  • Barrister-at-Law (Gray’s Inn) (2004)
  • LL.B (Hons), University of Bristol (2003)
Professional Affiliations:
  • Council member, Insolvency Practitioners Association of Malaysia (IPAM)
  • Member, INSOL International
  • Member, Insolvency Practice Committee of MIA
  • Member, Insolvency Practice Committee of MICPA
  • Associate member, CIArb
  • Member, Asian Institute of ADR

Authored the following publications / articles:

Arbitration
  • 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,  Skrine’s Legal Insights, 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.
  • Author, the chapter on Companies & Securities, Bullen & Leake & Jacob’s Malaysian Precedents of Pleadings, 2017.
  • 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, Auditors Beware,  Skrine’s Legal Insights, 2016.
  • Author, Paying for Past CINs: Damages as a Remedy in Oppression Actions,  Skrine’s Legal Insights, 2014.
  • Author, Convening General Meetings: Forcing Suffrage to End Suffering,  International Law Office, 2011.
Corporate Insolvency and Restructuring
(iv) Fraud and Corruption
Presented the following talks:

Arbitration 
  • Speaker, Mysteries of International Arbitration: Unlocking the Secrets to an Effective and Efficient Arbitration, Skrine and SIAC Talk, 2019.
  • Speaker, Mysteries of Legal Professional Privilege, Skrine and 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, 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.
Corporate Insolvency and Restructuring
  • 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
  • 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 "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."
 
  • Ranked in Band 4 in Dispute Resolution in Chambers Asia-Pacific 2018 and 2019.
  • Listed as a "Future Star" in Benchmark Litigation Asia-Pacific 2018.
  • Ranked as an Up-and-Coming lawyer in Chambers Asia-Pacific 2014-2015 for dispute resolution.
  • "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.
  • 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.