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How to get a company pay the money owe to me?

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asked on Feb 24, 2017 at 21:39
by   goodboy123
edited on Feb 24, 2017 at 21:51
by   goodboy123
A company (Sdn Bhd) owe me about RM110K of money, which the money was borrow to them for cash flow use. The owed money is properly recorded in the company account and being audited. We only make a very simple agreement document on how the money should be pay back.

The company core business is now being moved out into new sister company which 60% of the share is owned by original company. As the core business is being moved out, therefore the original company earning is now based on those side income which is very little. However, the new sister company is now earning huge (millions) and expand a lot. From what I see, they don't care about the original company any more.

So, when I asked about the payment for the money owed, they usually say that the original company don't earn money so don't have money to pay back. Recently I found that, they even have plan to convert that 60% of share into their personal name instead of company and leave the original company to be in debt.

What can I do to better protect the money that company owe to me and get them pay back?

Thank you.
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2 Answers

answered on Feb 24, 2017 at 22:55
by   jeff005
What can I do to better protect the money that company owe to me and get them pay back? 
Start a immediate Lawsuit if there is proper documentation.
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answered on Feb 25, 2017 at 00:38
by   vkpc
A company (Sdn Bhd) owe me about RM110K of money, which the money was borrow to them for cash flow use. The owed money is properly recorded in the company account and being audited. We only make a very simple agreement document on how the money should be pay back.

Why did you loan money to the company? 
Are you related to the shareholders?
Is there interest on the loan?
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