Khor Yong Yong (as the Liquidator of Yeesheng Marketing Sdn Bhd (in liquidation) (Company No. 201601019775/1190712-V) ) 1. ) Yeesheng Marketing Sdn Bhd (in liquidation) (Company No. 201601019775/1190712-V) ) 2. ) Lee Chin Aik 3. ) Chung Yew

Khor Yong Yong (as the Liquidator of Yeesheng Marketing Sdn Bhd (in liquidation) (Company No. 201601019775/1190712-V) ) 1. ) Yeesheng Marketing Sdn Bhd (in liquidation) (Company No. 201601019775/1190712-V) ) 2. ) Lee Chin Aik 3. ) Chung Yew

Where a liquidator has realized the company's assets, distributed the final dividend to the sole creditor, complied with notice and summary requirements under Rule 149 and there is no opposition, the Court may dispense with convening meetings under Rule 150(5), accept the liquidator's resignation and release him under section 490, dissolve the company and direct destruction of books within five years under section 518 and Rule 152; these facts justified granting the orders sought.

Citation
PA-28PW-20-07/2023 (Mahkamah Tinggi)
Parties
Applicant (liquidator of Yeesheng Marketing Sdn. Bhd. in Liquidation): KHOR YONG YONG; 1st Respondent (company in Liquidation): YEESHENG MARKETING SDN. BHD. (In liquidation); 2nd Respondent: LEE CHIN AIK; 3rd Respondent: CHUNG YEW VOON
Court
High Court
Jurisdiction
Malaysia
Judgment Date
4 December 2023
Case Number
PA-28PW-20-07/2023 (Mahkamah Tinggi)
Procedural Posture
Companies (winding Up) / Post‑winding Up Application / Application to Be Released as Liquidator, to Dissolve Company and to Destroy Company Books
Outcome
Application granted in full.
Legal Topics
Liquidator Release, Company Dissolution, Destruction of Company Books and Records, Compliance With Rules 149 and 150, Application of Sections 490 and 518 of Companies Act 2016
Source Language
Malay/English
Company Law Insolvency Law Civil Procedure Liquidator Release Company Dissolution Destruction of Company Books and Records Compliance With Rules 149 and 150 Application of Sections 490 and 518 of Companies Act 2016

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Parties

KHOR YONG YONG

Applicant (liquidator of Yeesheng Marketing Sdn. Bhd. in Liquidation)

YEESHENG MARKETING SDN. BHD. (In liquidation)

1st Respondent (company in Liquidation)

LEE CHIN AIK

2nd Respondent

CHUNG YEW VOON

3rd Respondent

Procedural Posture

Companies (winding Up) / Post‑winding Up Application / Application to Be Released as Liquidator, to Dissolve Company and to Destroy Company Books

Legal Issues

  1. 1 Whether the Court should dispense with convening meetings of creditors and contributories to consider the liquidator's resignation
  2. 2 Whether the liquidator should be released under section 490 of the Companies Act 2016
  3. 3 Whether the company should be dissolved

Ratio Decidendi

Where a liquidator has realized the company's assets, distributed the final dividend to the sole creditor, complied with notice and summary requirements under Rule 149 and there is no opposition, the Court may dispense with convening meetings under Rule 150(5), accept the liquidator's resignation and release him under section 490, dissolve the company and direct destruction of books within five years under section 518 and Rule 152; these facts justified granting the orders sought.

Court Disposition

Application granted in full.

Orders

  • Dispense with calling of meetings of the company\'s creditors and contributories to consider the liquidator\'s resignation
  • The liquidator (KHOR YONG YONG) is released as liquidator of Yeesheng Marketing Sdn. Bhd.