Barry Goh Meng Yew, Suria Juan and Goh Jen Nie for the Applicant / Contributory (Madam Tay May Chean) in PW213 & PW258 [Messrs Iza Ng Yeoh & Kit] 1. ) Caitlin Tan Hui Yi for the Liquidator of the Respondent (Lim San Peen) / Applicant in WA-

Barry Goh Meng Yew, Suria Juan and Goh Jen Nie for the Applicant / Contributory (Madam Tay May Chean) in PW213 & PW258 [Messrs Iza Ng Yeoh & Kit] 1. ) Caitlin Tan Hui Yi for the Liquidator of the Respondent (Lim San Peen) / Applicant in WA-

The court appointed Victor Saw Seng Kee because there was no proven misconduct, dereliction or conflict by the incumbent liquidator or his team; continuity, access to records, qualifications and experience justified replacement by a PWC nominee to avoid disruption; the court exercised its discretion after considering creditors' and contributories' views and applicable authorities which require cause for removal and favor continuity absent conflict.

Citation
POST WINDING UP NO: WA-28PW-258-09/2021 (Mahkamah Tinggi)
Parties
Petitioner: Tai Heng Leng @ Tek Hean Leng; Respondent (in Liquidation): New Future Capital Sdn Bhd; Applicant / Contributory: Tai May Chean; Liquidator (former) / Applicant in WA 28 PW 182: Lim San Peen; Nominee Liquidator (appointed): Victor Saw Seng Kee; Official Receiver (malaysian Department of Insolvency): Official Receiver
Court
High Court
Jurisdiction
Malaysia
Judgment Date
25 May 2022
Case Number
POST WINDING UP NO: WA-28PW-258-09/2021 (Mahkamah Tinggi)
Procedural Posture
Companies (winding Up) Applications Before the High Court (commercial Division) / Post Winding Up Applications for Removal/replacement of Liquidator and Related Interlocutory Proceedings; Decision on Appointment Recorded After Hearing and Reserved Judgment
Outcome
PW 258 allowed; PW 213 dismissed; Victor Saw Seng Kee appointed liquidator in place of Lim San Peen; Lim San Peen released
Legal Topics
Appointment of Liquidator, Removal of Liquidator, Duties of Liquidator, Creditors' Interests, Proof of Debt Procedures
Source Language
Malay/English
Company Law Insolvency Law Civil Procedure Appointment of Liquidator Removal of Liquidator Duties of Liquidator Creditors' Interests Proof of Debt Procedures

Case Brief

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 9 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

Tai Heng Leng @ Tek Hean Leng

Petitioner

New Future Capital Sdn Bhd

Respondent (in Liquidation)

Tai May Chean

Applicant / Contributory

Lim San Peen

Liquidator (former) / Applicant in WA 28 PW 182

Victor Saw Seng Kee

Nominee Liquidator (appointed)

Official Receiver

Official Receiver (malaysian Department of Insolvency)

Procedural Posture

Companies (winding Up) Applications Before the High Court (commercial Division) / Post Winding Up Applications for Removal/replacement of Liquidator and Related Interlocutory Proceedings; Decision on Appointment Recorded After Hearing and Reserved Judgment

Legal Issues

  1. 1 Whether the incumbent liquidator should be removed and replaced
  2. 2 Whether proposed nominees are suitable and independent
  3. 3 Whether the incumbent liquidator was derelict in statutory duties

Ratio Decidendi

The court appointed Victor Saw Seng Kee because there was no proven misconduct, dereliction or conflict by the incumbent liquidator or his team; continuity, access to records, qualifications and experience justified replacement by a PWC nominee to avoid disruption; the court exercised its discretion after considering creditors' and contributories' views and applicable authorities which require cause for removal and favor continuity absent conflict.

Court Disposition

PW 258 allowed; PW 213 dismissed; Victor Saw Seng Kee appointed liquidator in place of Lim San Peen; Lim San Peen released

Orders

  • Victor Saw Seng Kee appointed as Liquidator of New Future Capital Sdn Bhd in place of Lim San Peen
  • PW 258 allowed and prayers 2,3 and 4 granted as recorded