Sohan Yong for the Respondent [Messrs T Tharuma & Assoc.) LAIN-LAIN 1. ) Nur Hidayah Bt Mohamad Fauzi and K. Sheela T. Vinayaka Das for the Petitioner [Messrs Lewis & Co.] 2. ) Kamraj Nagayam & Maya Gayathri for Geopancar Sdn Bhd, Supportin

Sohan Yong for the Respondent [Messrs T Tharuma & Assoc.) LAIN-LAIN 1. ) Nur Hidayah Bt Mohamad Fauzi and K. Sheela T. Vinayaka Das for the Petitioner [Messrs Lewis & Co.] 2. ) Kamraj Nagayam & Maya Gayathri for Geopancar Sdn Bhd, Supportin

The court appointed the nominated private liquidator because the three supporting creditors demonstrated combined debts (RM46,751,630.45) vastly exceeding the petitioner's claimed sum (approx. RM2,000,000), and the nominated liquidator was shown to be suitably qualified; the court exercised its statutory discretion under the Companies Act 2016 to make that appointment.

Citation
COMPANIES (WINDING-UP) PETITION NO. WA-28NCC-438-07/2021 (Mahkamah Tinggi)
Parties
Petitioner: PERUNDING AC DAN RAKAN SENDIRIAN BERHAD; Respondent: M101 ENTITY SDN BHD; Intervener: GEOPANCAR SDN BHD; Intervener: EVERLASTING COLOUR SDN BHD; Intervener: VERTICAL LANDMARK SDN BHD; Intervener: OASIS TERMINAL SDN BHD; Intervener: EVERGREEN COLOUR SDN BHD; Intervener: TOTAL GOODWILL SDN BHD; Intervener: SUMMIT HIBISCUS SDN BHD; Intervener: FIRST FORESIGHT SDN BHD; Intervener: RUBY STRAITS SDN BHD; Intervener: MATRIX TREASURE SDN BHD; Intervener: CRCC MALAYSIA BERHAD
Court
WINDING-UP
Jurisdiction
Malaysia
Judgment Date
15 December 2021
Case Number
COMPANIES (WINDING-UP) PETITION NO. WA-28NCC-438-07/2021 (Mahkamah Tinggi)
Procedural Posture
Winding Up Petition Under Companies Act 2016 / Hearing on Motion to Appoint Liquidator; Order Made; Appeal Against Appointment Noted
Outcome
Order granted in terms for paragraphs 1-5 of Enclosure 19; Ralph Ravin Rantnasamy appointed as liquidator; no order as to costs.
Legal Topics
Winding Up, Appointment of Liquidator, Statutory Notice/enforcement, CIPAA Adjudication Enforcement, Supporting Creditors
Source Language
Malay/English
Company Law Insolvency Construction Law Civil Procedure Winding Up Appointment of Liquidator Statutory Notice/enforcement CIPAA Adjudication Enforcement +1 more

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Parties

PERUNDING AC DAN RAKAN SENDIRIAN BERHAD

Petitioner

M101 ENTITY SDN BHD

Respondent

GEOPANCAR SDN BHD

Intervener

EVERLASTING COLOUR SDN BHD

Intervener

VERTICAL LANDMARK SDN BHD

Intervener

OASIS TERMINAL SDN BHD

Intervener

EVERGREEN COLOUR SDN BHD

Intervener

TOTAL GOODWILL SDN BHD

Intervener

SUMMIT HIBISCUS SDN BHD

Intervener

FIRST FORESIGHT SDN BHD

Intervener

RUBY STRAITS SDN BHD

Intervener

MATRIX TREASURE SDN BHD

Intervener

CRCC MALAYSIA BERHAD

Intervener

Procedural Posture

Winding Up Petition Under Companies Act 2016 / Hearing on Motion to Appoint Liquidator; Order Made; Appeal Against Appointment Noted

Legal Issues

  1. 1 Whether the court should appoint the private liquidator nominated by supporting creditors
  2. 2 Whether the combined debts of supporting creditors justify appointment over petitioner's interest
  3. 3 Admissibility and impact of a late affidavit filed by the respondent

Ratio Decidendi

The court appointed the nominated private liquidator because the three supporting creditors demonstrated combined debts (RM46,751,630.45) vastly exceeding the petitioner's claimed sum (approx. RM2,000,000), and the nominated liquidator was shown to be suitably qualified; the court exercised its statutory discretion under the Companies Act 2016 to make that appointment.

Court Disposition

Order granted in terms for paragraphs 1-5 of Enclosure 19; Ralph Ravin Rantnasamy appointed as liquidator; no order as to costs.

Orders

  • Order in terms for paragraphs 1-5 of Enclosure 19 granted
  • Ralph Ravin Rantnasamy appointed liquidator of M101 Entity Sdn Bhd