Malaysia Case Law: Decisions & Judgments | LexChat

Topic

Appointment of receivers and managers

Legal area

Court

12 Dec 2023

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

Citation

WA-22NCC-633-08/2023 (Mahkamah Tinggi)
Court

High Court
Case number

WA-22NCC-633-08/2023 (Mahkamah Tinggi)

The court exercised its discretion to grant the ad interim injunction to preserve the status quo pending the inter partes hearing because the plaintiff demonstrated a real risk of irreparable commercial prejudice, provided an undertaking for damages, and preservation was consistent with the court's statutory powers under s.25(2) and the Schedule; delay by the creditor in enforcing judgments reduced any claim of irreparable harm to the defendants.
27 Dec 2022

1. ) Ong Hock An 2. ) Bernard Tan Chek Hean 1. ) XSPEC Resources Sdn Bhd 2. ) Dato' Sri Zul Azmi Bin Abu Hussin 3. ) Mohamad Safwan Bin Abdul Malek

Citation

WA-24NCC-861-08/2022 (Mahkamah Tinggi)
Court

High Court
Case number

WA-24NCC-861-08/2022 (Mahkamah Tinggi)

The court held that the Debenture's express terms together with Companies Act 2016 ss 374, 375, 383, 388, 389 and 390 authorized MDV to appoint the Plaintiffs as receivers and managers and empowered the Plaintiffs to take possession of charged assets and to require production of books, records and a statement of affairs; the Defendants' refusal to comply was unjustified and the Originating Summons was therefore allowed with extensions for compliance and an award of costs.