July 17, 2012 Alok Gupta Probate, Resealing Grants of Probate, Sale & Transfer of Investment Securities, Sale of Investment Securities, Transfer of Investment Securities

English Will – How to recover Malaysian assets?

The deceased owned shares in several Malaysian companies. First, it was necessary to ascertain ownership of the shares, which in the absence of a statement from Bursa Malaysia or the original share certificates proved difficult. We nevertheless were able to instruct local solicitors to apply for a Reseal of the English Grant and obtain the Reseal based upon undertakings to the Court to provide confirmation of shareholdings once the Grant had been Resealed and the information obtained. We were successful in this approach, registered the resealed Grant and eventually were able to arrange for the shares to be sold and the proceeds accounted for to the estate.

More recently we have now been successful in recovering shares in several Malaysian companies although it took several months and a lot of patience to finally sort out the red tape, and have the monies transferred to the beneficiaries. Many of these problems are what might be called banking and Anti-Money Laundering problems, and so please be prepared for a long wait before matters can be completed.