JIMAT JIMAT FRESH & FROZEN MART SDN BHD (IN LIQUIDATION) PEMPETISYEN B2B FINPAL SDN BHD

JIMAT JIMAT FRESH & FROZEN MART SDN BHD (IN LIQUIDATION) PEMPETISYEN B2B FINPAL SDN BHD

The winding up petition and order presented/obtained during the moratorium triggered by the judicial management application were contrary to section 410 and therefore null; the Applicants are contributories (shareholders) with locus standi under section 493; section 494 does not impose a mandatory requirement that the liquidator produce a report before the court may terminate winding up; accordingly the court must terminate the winding up and set aside the winding up order.

Citation
PA-28PW-26-08/2023 (Mahkamah Tinggi)
Parties
Company (in Liquidation): JIMAT JIMAT FRESH & FROZEN MART SDN BHD; Applicant (shareholder): LIM KAR VEE @ KAVEE LIM; Applicant (shareholder): ANG TEOW WAY; Petitioner (creditor): B2B FINPAL SDN BHD
Court
High Court
Jurisdiction
Malaysia
Judgment Date
3 December 2024
Case Number
PA-28PW-26-08/2023 (Mahkamah Tinggi)
Procedural Posture
Companies (winding Up) / Post Winding Up Application / Application to Terminate Winding Up; Judgment
Outcome
Application allowed; winding up terminated and winding up order set aside
Legal Topics
Judicial Management Moratorium, Termination of Winding Up, Locus Standi of Contributories, Liquidator's Report Under Section 494, Statutory Interpretation
Source Language
Malay/English
Company Law Insolvency Law Civil Procedure Judicial Management Moratorium Termination of Winding Up Locus Standi of Contributories Liquidator's Report Under Section 494 Statutory Interpretation

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Parties

JIMAT JIMAT FRESH & FROZEN MART SDN BHD

Company (in Liquidation)

LIM KAR VEE @ KAVEE LIM

Applicant (shareholder)

ANG TEOW WAY

Applicant (shareholder)

B2B FINPAL SDN BHD

Petitioner (creditor)

Procedural Posture

Companies (winding Up) / Post Winding Up Application / Application to Terminate Winding Up; Judgment

Legal Issues

  1. 1 Whether a winding up petition presented and order obtained during the moratorium triggered by a judicial management application is void
  2. 2 Whether the two shareholders are contributories with locus standi to apply under section 493
  3. 3 Whether a liquidator's report under section 494 is a mandatory precondition to an order terminating winding up

Ratio Decidendi

The winding up petition and order presented/obtained during the moratorium triggered by the judicial management application were contrary to section 410 and therefore null; the Applicants are contributories (shareholders) with locus standi under section 493; section 494 does not impose a mandatory requirement that the liquidator produce a report before the court may terminate winding up; accordingly the court must terminate the winding up and set aside the winding up order.

Court Disposition

Application allowed; winding up terminated and winding up order set aside

Orders

  • Winding up order dated 17.7.2023 set aside as null and void
  • Winding up of JIMAT JIMAT FRESH & FROZEN MART SDN BHD terminated