Kenneth St James & Jonathan Gerard for the Applicant [Messrs Ken St James] Dato Wong Rhen Yen and Gary Ng Cheng Yuen for the Respondent Liquidator [Messrs Dennis Nik & Wong] LAIN-LAIN 1. ) Chong Pow Yew for the Contributory, Tan Kian Soon [

Kenneth St James & Jonathan Gerard for the Applicant [Messrs Ken St James] Dato Wong Rhen Yen and Gary Ng Cheng Yuen for the Respondent Liquidator [Messrs Dennis Nik & Wong] LAIN-LAIN 1. ) Chong Pow Yew for the Contributory, Tan Kian Soon [

Applicant failed to show cause for removal: evidence did not establish bias, conflict or personal unfitness; liquidator acted bona fide, reasonably and with proper regard to intervening litigation and valuation evidence which justified the licensing and royalty arrangements and delay in auction; removal would not benefit creditors.

Citation
POST WINDING UP NO. WA-28PW-717-12/2019 (Mahkamah Tinggi)
Parties
Applicant: Yeo Chai Seng; Liquidator (respondent): Wong Chin Yong; Company (in Liquidation): CHD Global IP Sdn Bhd (in liquidation); Contributory: Tan Kiang Soon; Co Inventor/45% Shareholder: Choong Hwa Doong; Official Receiver: Official Receiver
Court
High Court
Jurisdiction
Malaysia
Judgment Date
11 February 2021
Case Number
POST WINDING UP NO. WA-28PW-717-12/2019 (Mahkamah Tinggi)
Procedural Posture
Post Winding Up Application Under Companies Act 2016 / Application to Remove Court Appointed Liquidator (section 482(b) and 501)
Outcome
Application dismissed
Legal Topics
Removal of Liquidator, Winding Up, Patent Valuation and Sale, Proofs of Debt, Royalty Disputes, Judicial Discretion
Source Language
Malay/English
Company Law Insolvency Intellectual Property Civil Procedure Removal of Liquidator Winding Up Patent Valuation and Sale Proofs of Debt +2 more

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Parties

Yeo Chai Seng

Applicant

Wong Chin Yong

Liquidator (respondent)

CHD Global IP Sdn Bhd (in liquidation)

Company (in Liquidation)

Tan Kiang Soon

Contributory

Choong Hwa Doong

Co Inventor/45% Shareholder

Official Receiver

Official Receiver

Procedural Posture

Post Winding Up Application Under Companies Act 2016 / Application to Remove Court Appointed Liquidator (section 482(b) and 501)

Legal Issues

  1. 1 Whether the court should remove the liquidator for bias or conflict of interest
  2. 2 Whether failure to pay judgment creditors justifies removal of the liquidator
  3. 3 Whether the liquidator acted unreasonably in valuing/licensing the patent and delaying its sale

Ratio Decidendi

Applicant failed to show cause for removal: evidence did not establish bias, conflict or personal unfitness; liquidator acted bona fide, reasonably and with proper regard to intervening litigation and valuation evidence which justified the licensing and royalty arrangements and delay in auction; removal would not benefit creditors.

Court Disposition

Application dismissed

Orders

  • Enclosure 1 dismissed
  • Applicant to pay costs of RM10,000 to the Liquidator