Abdul Rahman Bin Zainal Baltasar Bin Maskor PIHAK TERKILAN SRI ALAM SDN BHD (In Creditors' Voluntary Liquidation)

Abdul Rahman Bin Zainal Baltasar Bin Maskor PIHAK TERKILAN SRI ALAM SDN BHD (In Creditors' Voluntary Liquidation)

On a balance of probabilities the Court found cause shown to remove the Joint Liquidators: they proceeded with the COI meeting of 19.11.2020 in the absence of creditor representatives thereby evidencing lack of independence and apparent bias; they failed or unduly delayed compliance with Consent Orders (notably...

Source-derived case information.

Citation
WA-28PW-94-02/2022 (Mahkamah Tinggi)
Parties
Applicant: Abdul Rahman bin Zainal; Applicant: Arkitek Zainuddin Harun; Joint Liquidator (respondent): Wan Idris bin Wan Ibrahim; Joint Liquidator (respondent): Baltasar bin Maskor; Company (in Creditors' Voluntary Liquidation): Sri Alam Sdn Bhd; Creditor: Messrs Khalek Awang & Associates; Contributories: Contributories
Court
High Court
Jurisdiction
Malaysia
Judgment Date
28 April 2023
Case Number
WA-28PW-94-02/2022 (Mahkamah Tinggi)
Procedural Posture
Post Winding Up Applications to Remove Liquidators Under Companies Act 2016 / Notice(s) of Motion Heard and Judgment Delivered (removal and Replacement of Liquidators)
Outcome
Joint Liquidators Wan Idris bin Wan Ibrahim and Baltasar bin Maskor removed; Mr Ralph Ravin Ratnaswamy appointed as liquidator of Sri Alam Sdn Bhd
Legal Topics
Removal of Liquidator, Committee of Inspection (coi) Directions, Compliance With Consent Orders, Statutory Duties of Liquidator, Creditor Meetings and Voting
Company Law Insolvency and Winding Up Civil Procedure Removal of Liquidator Committee of Inspection (coi) Directions Compliance With Consent Orders Statutory Duties of Liquidator Creditor Meetings and Voting

Source-derived case record

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 4 Authorities cited 14 Party arguments 2
Sign in to unlock

Parties

Abdul Rahman bin Zainal

Applicant

Arkitek Zainuddin Harun

Applicant

Wan Idris bin Wan Ibrahim

Joint Liquidator (respondent)

Baltasar bin Maskor

Joint Liquidator (respondent)

Sri Alam Sdn Bhd

Company (in Creditors' Voluntary Liquidation)

Messrs Khalek Awang & Associates

Creditor

Contributories

Contributories

Procedural Posture

Post Winding Up Applications to Remove Liquidators Under Companies Act 2016 / Notice(s) of Motion Heard and Judgment Delivered (removal and Replacement of Liquidators)

Legal Issues

  1. 1 Whether cause shown to remove the joint liquidators under s453(2) Companies Act 2016
  2. 2 Whether the joint liquidators breached statutory duties and consent orders (failure to recover assets, non‑deposit of compensation)
  3. 3 Whether COI meeting 19.11.2020 conducted in absence of creditor representatives invalidated actions and demonstrated lack of impartiality

Ratio Decidendi

On a balance of probabilities the Court found cause shown to remove the Joint Liquidators: they proceeded with the COI meeting of 19.11.2020 in the absence of creditor representatives thereby evidencing lack of independence and apparent bias; they failed or unduly delayed compliance with Consent Orders (notably failure to pursue recovery of monies in Singapore and failure to deposit land compensation with Messrs Cheah Teh & Su as ordered); those material breaches and conflict justified removal and replacement; accordingly the Court removed the Joint Liquidators and appointed Mr Ralph Ravin Ratnaswamy as liquidator.

Court Disposition

Joint Liquidators Wan Idris bin Wan Ibrahim and Baltasar bin Maskor removed; Mr Ralph Ravin Ratnaswamy appointed as liquidator of Sri Alam Sdn Bhd

Orders

  • Remove Wan Idris bin Wan Ibrahim and Baltasar bin Maskor as Joint Liquidators of Sri Alam Sdn Bhd
  • Appoint Mr Ralph Ravin Ratnaswamy as liquidator of Sri Alam Sdn Bhd