PEMPETISYEN WILBUR TOCK BING HENG 1. ) TOCK KHEE SONG 2. ) YEW LEE BLASTING SDN. BHD.

PEMPETISYEN WILBUR TOCK BING HENG 1. ) TOCK KHEE SONG 2. ) YEW LEE BLASTING SDN. BHD.

On balance of probabilities the petitioner established prima facie evidence of likely winding-up, a shareholder deadlock and a real risk of dissipation of company assets by the sole director; therefore appointment of an interim liquidator was warranted to preserve the status quo pending determination of the winding-up petition.

Citation
WA-28NCC-949-09/2023 (Mahkamah Tinggi)
Parties
Petitioner: WILBUR TOCK BING HENG; Respondent: TOCK KHEE SONG; Respondent: YEW LEE BLASTING SDN BHD
Court
High Court
Jurisdiction
Malaysia
Judgment Date
9 February 2024
Case Number
WA-28NCC-949-09/2023 (Mahkamah Tinggi)
Procedural Posture
Winding Up Petition (companies Act 2016) / Interim Application Pending Winding Up Petition (appointment of Interim Liquidator)
Outcome
Application allowed; interim liquidator appointed to preserve status quo pending disposal of winding-up petition
Legal Topics
Interim Liquidator, Winding Up, Shareholder Deadlock, Dissipation of Assets, Executorship Issues
Source Language
Malay/English
Company Law Insolvency Civil Procedure Interim Liquidator Winding Up Shareholder Deadlock Dissipation of Assets Executorship Issues

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Parties

WILBUR TOCK BING HENG

Petitioner

TOCK KHEE SONG

Respondent

YEW LEE BLASTING SDN BHD

Respondent

Procedural Posture

Winding Up Petition (companies Act 2016) / Interim Application Pending Winding Up Petition (appointment of Interim Liquidator)

Legal Issues

  1. 1 Whether there is good prima facie evidence to justify the appointment of an interim liquidator
  2. 2 Whether the company's assets are in jeopardy and at risk of dissipation by the sole director
  3. 3 Whether there is a shareholder deadlock warranting court intervention

Ratio Decidendi

On balance of probabilities the petitioner established prima facie evidence of likely winding-up, a shareholder deadlock and a real risk of dissipation of company assets by the sole director; therefore appointment of an interim liquidator was warranted to preserve the status quo pending determination of the winding-up petition.

Court Disposition

Application allowed; interim liquidator appointed to preserve status quo pending disposal of winding-up petition

Orders

  • Appointment of Mr Chong Chuan Long of Messrs C L Chong Insolvency Services as Interim Liquidator of Yew Lee Blasting Sdn Bhd pending disposal of the petition or until further order
  • Preserve the status quo of the company's assets and affairs pending further order