XORIX SDN BHD 1. ) SMEB ASSET MANAGEMENT SDN BHD 2. ) ANDREW HENG 3. ) KUMARAKURU A/L JAI PRAKASH KRISHNAN 4. ) AZAHARIE SIMAN

XORIX SDN BHD 1. ) SMEB ASSET MANAGEMENT SDN BHD 2. ) ANDREW HENG 3. ) KUMARAKURU A/L JAI PRAKASH KRISHNAN 4. ) AZAHARIE SIMAN

The court exercised its discretion to grant ad interim injunctions to preserve the status quo because the plaintiff demonstrated a real risk of irreparable commercial prejudice from the disputed appointment of receivers and managers, offered an undertaking as to damages to address respondent prejudice, and the...

Source-derived case information.

Citation
WA-22NCC-633-08/2023 (Mahkamah Tinggi)
Parties
Plaintiff: XORIX SDN BHD; 1st Defendant: SMEB ASSET MANAGEMENT SDN BHD; 2nd Defendant: ANDREW HENG; 3rd Defendant: KUMARAKURU A/L JAI PRAKASH KRISHNAN; 4th Defendant: AZAHARIE SIMAN
Court
High Court
Jurisdiction
Malaysia
Judgment Date
12 December 2023
Case Number
WA-22NCC-633-08/2023 (Mahkamah Tinggi)
Procedural Posture
Commercial Civil Suit (injunction Application) / Ad Interim Injunction Granted at Inter Partes Hearing; Defendants Have Appealed Against Grant
Outcome
Ad interim injunctions granted on terms to preserve status quo pending inter partes disposal of the injunction application; liberty to apply; defendants have appealed
Legal Topics
Ad Interim Injunction, Status Quo Preservation, Undertaking for Damages, Vesting Order, Judgment in Default, Appointment of Receivers
Civil Procedure Injunctions Banking and Finance Receivers and Managers Debt Enforcement Ad Interim Injunction Status Quo Preservation Undertaking for Damages +3 more

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Summary, issues, holding and outcome

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Parties

XORIX SDN BHD

Plaintiff

SMEB ASSET MANAGEMENT SDN BHD

1st Defendant

ANDREW HENG

2nd Defendant

KUMARAKURU A/L JAI PRAKASH KRISHNAN

3rd Defendant

AZAHARIE SIMAN

4th Defendant

Procedural Posture

Commercial Civil Suit (injunction Application) / Ad Interim Injunction Granted at Inter Partes Hearing; Defendants Have Appealed Against Grant

Legal Issues

  1. 1 Whether the appointment of receivers and managers was valid without prior notice to the plaintiff
  2. 2 Whether the debt had merged into the judgments in default and whether enforcement rights had lapsed
  3. 3 Whether an ad interim injunction was appropriate to preserve the status quo pending inter partes hearing

Ratio Decidendi

The court exercised its discretion to grant ad interim injunctions to preserve the status quo because the plaintiff demonstrated a real risk of irreparable commercial prejudice from the disputed appointment of receivers and managers, offered an undertaking as to damages to address respondent prejudice, and the balance of convenience favoured preserving the business pending inter partes resolution.

Court Disposition

Ad interim injunctions granted on terms to preserve status quo pending inter partes disposal of the injunction application; liberty to apply; defendants have appealed

Orders

  • 2nd and 3rd Defendants restrained from exercising any power as Receivers and Managers of the Plaintiff pending disposal of the proceeding herein
  • 2nd and 3rd Defendants to return possession and control of the assets and properties of the Plaintiff pending disposal of the proceeding herein