TRITON EQUITY SDN. BHD. (NO. SYARIKAT: 958701-A) CITYPOINT STRATEGIES SDN. BHD. (NO. SYARIKAT: 986817-U)

TRITON EQUITY SDN. BHD. (NO. SYARIKAT: 958701-A) CITYPOINT STRATEGIES SDN. BHD. (NO. SYARIKAT: 986817-U)

The High Court allowed the defendant's application and set aside the writ and statement of claim because the plaintiff relied on outdated audited accounts (2016) and failed to account for mutual dealings and payments made by the defendant to UOBB which, under section 526 Companies Act 2016, must be set off; there was no triable issue and the action constituted an abuse of process, warranting dismissal with costs.

Citation
WA-22NCVC-943-12/2019 (Mahkamah Tinggi)
Parties
Appellant/plaintiff: Triton Equity Sdn. Bhd.; Respondent/defendant: Citypoint Strategies Sdn. Bhd.
Court
High Court
Jurisdiction
Malaysia
Judgment Date
18 September 2020
Case Number
WA-22NCVC-943-12/2019 (Mahkamah Tinggi)
Procedural Posture
Civil Appeal / Appeal Against High Court Order Striking Out/cancelling Writ and Statement of Claim (interlocutory Disposal)
Outcome
High Court allowed defendant's application; writ and statement of claim cancelled/struck out
Legal Topics
Set Off, Mutual Dealings, Proof of Debt, Companies Act 2016 S526, Abuse of Process, Audited Accounts
Source Language
Malay/English
Company Law Civil Procedure Insolvency and Liquidation Contract Set Off Mutual Dealings Proof of Debt Companies Act 2016 S526 +2 more

Case Brief

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Parties

Triton Equity Sdn. Bhd.

Appellant/plaintiff

Citypoint Strategies Sdn. Bhd.

Respondent/defendant

Procedural Posture

Civil Appeal / Appeal Against High Court Order Striking Out/cancelling Writ and Statement of Claim (interlocutory Disposal)

Legal Issues

  1. 1 Whether defendant was entitled to set-off mutual dealings under section 526 Companies Act 2016 before plaintiff proved claim
  2. 2 Whether plaintiff's reliance on audited accounts of 2016 (outdated) precluded a triable issue
  3. 3 Whether the action constituted an abuse of process warranting dismissal/setting aside of writ and statement of claim

Ratio Decidendi

The High Court allowed the defendant's application and set aside the writ and statement of claim because the plaintiff relied on outdated audited accounts (2016) and failed to account for mutual dealings and payments made by the defendant to UOBB which, under section 526 Companies Act 2016, must be set off; there was no triable issue and the action constituted an abuse of process, warranting dismissal with costs.

Court Disposition

High Court allowed defendant's application; writ and statement of claim cancelled/struck out

Orders

  • Writ of Summons dated 16.12.2019 and Statement of Claim set aside/cancelled
  • Costs to be paid to defendant in the sum of MYR 3,000.00