PEMIUTANG PENGHAKIMAN INNOSEVEN SDN BHD PENGHUTANG PENGHAKIMAN Muhammad Zahir Sanjay Bin Abdullah

PEMIUTANG PENGHAKIMAN INNOSEVEN SDN BHD PENGHUTANG PENGHAKIMAN Muhammad Zahir Sanjay Bin Abdullah

The court held that the creditor correctly calculated interest in accordance with the judgment (interest from 16.9.2020), a company may validly commence bankruptcy proceedings and an allocator is a valid basis for a bankruptcy notice; accordingly the judgment debtor's grounds to set-aside the Bankruptcy Notice failed and the appeal was dismissed.

Citation
WA-29NCC-569-06/2023 (Mahkamah Tinggi)
Parties
Judgment Debtor: Muhammad Zahir Sanjay bin Abdullah; Judgment Creditor: Ex-Parte Innoseven Sdn. Bhd.
Court
High Court
Jurisdiction
Malaysia
Judgment Date
6 May 2024
Case Number
WA-29NCC-569-06/2023 (Mahkamah Tinggi)
Procedural Posture
Bankruptcy Proceedings / Appeal From Sar's Dismissal of Application to Set Aside Bankruptcy Notice
Outcome
Appeal dismissed with costs.
Legal Topics
Bankruptcy Notice, Set Aside, Interest Calculation, Locus Standi, Allocator, Enforcement of Judgment
Source Language
Malay/English
Insolvency/bankruptcy Civil Procedure Company Law Bankruptcy Notice Set Aside Interest Calculation Locus Standi Allocator +1 more

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Parties

Muhammad Zahir Sanjay bin Abdullah

Judgment Debtor

Ex-Parte Innoseven Sdn. Bhd.

Judgment Creditor

Procedural Posture

Bankruptcy Proceedings / Appeal From Sar's Dismissal of Application to Set Aside Bankruptcy Notice

Legal Issues

  1. 1 Whether the Bankruptcy Notice was defective because the interest calculation did not comply with the terms of the judgment
  2. 2 Whether a company has capacity/locus standi to issue a bankruptcy notice
  3. 3 Whether an allocator can be demanded and form a valid basis for a bankruptcy notice

Ratio Decidendi

The court held that the creditor correctly calculated interest in accordance with the judgment (interest from 16.9.2020), a company may validly commence bankruptcy proceedings and an allocator is a valid basis for a bankruptcy notice; accordingly the judgment debtor's grounds to set-aside the Bankruptcy Notice failed and the appeal was dismissed.

Court Disposition

Appeal dismissed with costs.

Orders

  • Appeal dismissed with costs.
  • Bankruptcy Notice not set aside.