“MONEY MATTERS”; DIVIDING BUSINESS INTERESTS ON DIVORCE OR DISSOLUTION: SPECIAL REFERENCE TO THE BUSINESS ENTITIES
DOI:
https://doi.org/10.31436/iiumlj.v29i(S1).636Keywords:
matrimonial property, business interest, business entities, Shariah, companyAbstract
In Malaysia, the contribution test is applied by both the Civil and Shariah courts to determine claims in business interest as matrimonial property. However, it is observed that different from claims on interest in personal property, the courts have to apply additional test other than the contribution test in determining claims of matrimonial property in business interest. This is because the ownership structure in business are different from ownership of personal property and highly dependents on types of the business entities. Apart from analyzing the approaches adopted in the Malaysian courts in dividing business interest upon divorce or dissolution of marriage, this research also highlights the arising legal issues which may arise in respect of different business entities in which the business interest exists. This study was conducted primarily through a doctrinal study of existing literature such as articles, journals and the decision from the relevant case laws which was decided in both the Civil and Shariah courts. This research found that other than types of business entities, the interest of parties in business is also determined by the quantum of shareholding or contribution in the business.
Metrics
Downloads
Published
How to Cite
Issue
Section
License
- Consent to publish: The Author(s) undertakes that the article named above is original and consents that the IIUM Press publishes it.
- Previous publication: The Author(s) guarantees that the article named above has not been published before in any form, that it is not concurrently submitted to another publication, and that it does not infringe anyone’s copyright. The Author(s) holds the IIUM Press and Editors of IIUM Law Journal harmless against all copyright claims.
- Transfer of copyright: The Author(s) hereby transfers the copyright of the article to the IIUM Press, which shall have the exclusive and unlimited right to publish the article in any form, including on electronic media. The Journal in turn grants the Author(s) the right to reproduce the article for educational and scientific purposes, provided the written consent of the Publisher is obtained.