WTK REALTY SDN BHD KATHRYN MA WAI FONG

WTK REALTY SDN BHD KATHRYN MA WAI FONG

On the admitted facts the company was a family company operated on mutual trust and confidence which had irretrievably broken down between the factions; such breakdown justified winding up under s465(1)(h) of the Companies Act 2016 notwithstanding the company’s profitability or absence of a formal management deadlock; appointment of the nominated liquidator was a proper exercise of judicial discretion; therefore the High Court’s winding up order and ancillary orders were affirmed.

Citation
Q-02(NCvC)(A)-2476-12/2017 (Mahkamah Rayuan)
Parties
Appellant / Second Respondent: WTK Realty Sdn. Bhd.; Respondent / Petitioner (executrix): Kathryn Ma Wai Fong; Appellant / Contributory: Datuk Wong Kie Yik; Appellant / Contributory: Wong Kie Chie
Court
NCvC
Jurisdiction
Malaysia
Judgment Date
5 October 2022
Case Number
Q-02(NCvC)(A)-2476-12/2017 (Mahkamah Rayuan)
Procedural Posture
Civil Appeal From High Court Winding Up Order (companies Act) / Court of Appeal Judgment (final Disposition)
Outcome
Both appeals dismissed; High Court winding-up order affirmed
Legal Topics
Winding Up, Just and Equitable Ground, Quasi Partnership, Appointment of Liquidator, Costs
Source Language
Malay/English
Company Law Insolvency Civil Procedure Family Law Winding Up Just and Equitable Ground Quasi Partnership Appointment of Liquidator +1 more

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Parties

WTK Realty Sdn. Bhd.

Appellant / Second Respondent

Kathryn Ma Wai Fong

Respondent / Petitioner (executrix)

Datuk Wong Kie Yik

Appellant / Contributory

Wong Kie Chie

Appellant / Contributory

Procedural Posture

Civil Appeal From High Court Winding Up Order (companies Act) / Court of Appeal Judgment (final Disposition)

Legal Issues

  1. 1 Whether respondent is a family company
  2. 2 Whether mutual trust and confidence extended to heirs/executor
  3. 3 Whether breakdown of trust justifies winding up under s465(1)(h) Companies Act 2016

Ratio Decidendi

On the admitted facts the company was a family company operated on mutual trust and confidence which had irretrievably broken down between the factions; such breakdown justified winding up under s465(1)(h) of the Companies Act 2016 notwithstanding the company’s profitability or absence of a formal management deadlock; appointment of the nominated liquidator was a proper exercise of judicial discretion; therefore the High Court’s winding up order and ancillary orders were affirmed.

Court Disposition

Both appeals dismissed; High Court winding-up order affirmed

Orders

  • Appeals dismissed with costs
  • Winding up order of WTK Realty Sdn. Bhd. affirmed