20 Apr 2022
Sohan Yong-Tharumarajah and Jonathan Sidhu for the Applicant (Enclosure 23 & 27) [Messrs T Tharuma & Associates] PENCELAH 1. ) S Raven and Janice Tay Shu Hui for the 1st 89th Interveners (Enclosure 23 & 27) [Messrs S Ravevesan] 2. ) Low Eu
- Citation
- WA-28JM-1-01/2022 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-28JM-1-01/2022 (Mahkamah Tinggi)
The court accepted the company's management accounts demonstrating inability to pay debts and found the draft restructuring proposals credible and capable, on the balance of probabilities, of fulfilling s405(1)(b) by preserving the company as a going concern and providing a more advantageous realisation than winding up; accordingly judicial management was justified and judicial managers were appointed.