17 Dec 2024
1. ) PURECIRCLE TRADING SDN. BHD. 2. ) PURECIRCLE SDN. BHD.
- Citation
- WA-24NCC(SOA)-3-10/2024 (Mahkamah Tinggi)
- Court
- SOA
- Case number
- WA-24NCC(SOA)-3-10/2024 (Mahkamah Tinggi)
The Court held that court‑convened scheme meetings under section 366 are a mandatory jurisdictional precondition and dispensation from holding them could not be granted; accordingly it ordered convening of meetings (with shortened notice), found creditors' meetings unnecessary because creditors would not be prejudiced, sanctioned the Schemes under s366(4) after the convened sole‑member meetings, and granted ancillary vesting and transfer orders under s370(2) to effect the amalgamation and dissolution without winding up, because all statutory preconditions were met.