1. ) Ter Thian Tin 2. ) Chong Fong Har 3. ) Chang Ngi Mooi 4. ) THC Rice Sdn Bhd 1. ) Chiptar Holdings Sdn Bhd (In Liquidation) 2. ) Ralph ravin Ratnaswamy

1. ) Ter Thian Tin 2. ) Chong Fong Har 3. ) Chang Ngi Mooi 4. ) THC Rice Sdn Bhd 1. ) Chiptar Holdings Sdn Bhd (In Liquidation) 2. ) Ralph ravin Ratnaswamy

Leave to commence proceedings in Prayers 3, 4 and 5 was refused: (1) removal application failed for lack of evidence of misconduct or cause and relied on misconceived statutory provision (s450(4) inapplicable); (2) set-off application was contrary to the pari passu principle and s527(10) CA 2016 and Applicants did not show pecuniary loss to justify departure; (3) contempt application lacked a prima facie case of breach of the Oppression Order. Applications dismissed with costs RM15,000.00.

Citation
WA-28PW-358-08/2023 (Mahkamah Tinggi)
Parties
First Applicant: Ter Thian Tin; Second Applicant: Chong Fong Har; Third Applicant: Chang Ngi Mooi; Fourth Applicant: THC Rice Sdn Bhd; First Respondent: Chiptar Holdings Sdn Bhd (In Liquidation); Second Respondent: Ralph Ravin Ratnaswamy
Court
High Court
Jurisdiction
Malaysia
Judgment Date
12 January 2024
Case Number
WA-28PW-358-08/2023 (Mahkamah Tinggi)
Procedural Posture
Companies (post Winding Up) / Interlocutory Application for Leave; Judgment on Applications for Leave
Outcome
Applications in Prayers 3, 4 and 5 dismissed
Legal Topics
Removal of Liquidator, Leave to Sue Liquidator, Set Off in Liquidation, Pari Passu Principle, Contempt of Court, Oppression Remedy
Source Language
Malay/English
Company Law Insolvency Law Civil Procedure Removal of Liquidator Leave to Sue Liquidator Set Off in Liquidation Pari Passu Principle Contempt of Court +1 more

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Parties

Ter Thian Tin

First Applicant

Chong Fong Har

Second Applicant

Chang Ngi Mooi

Third Applicant

THC Rice Sdn Bhd

Fourth Applicant

Chiptar Holdings Sdn Bhd (In Liquidation)

First Respondent

Ralph Ravin Ratnaswamy

Second Respondent

Procedural Posture

Companies (post Winding Up) / Interlocutory Application for Leave; Judgment on Applications for Leave

Legal Issues

  1. 1 Whether leave should be granted to remove a court-appointed liquidator under section 482 Companies Act 2016
  2. 2 Whether leave should be granted to commence proceedings to compel set-off of a judgment debt in a winding up contrary to pari passu rule (s527(10) CA 2016)
  3. 3 Whether leave should be granted to commence contempt proceedings for alleged breach of an oppression order

Ratio Decidendi

Leave to commence proceedings in Prayers 3, 4 and 5 was refused: (1) removal application failed for lack of evidence of misconduct or cause and relied on misconceived statutory provision (s450(4) inapplicable); (2) set-off application was contrary to the pari passu principle and s527(10) CA 2016 and Applicants did not show pecuniary loss to justify departure; (3) contempt application lacked a prima facie case of breach of the Oppression Order. Applications dismissed with costs RM15,000.00.

Court Disposition

Applications in Prayers 3, 4 and 5 dismissed

Orders

  • Applications in Prayers 3, 4 and 5 dismissed.
  • Costs awarded to the Respondents in the sum of RM15,000.00.