Malaysia Case Law: Decisions & Judgments

Topic

Breach of shareholders agreement

Legal area

Court

6 Nov 2024

1. ) TOP CAPITAL VENTURES SDN. BHD. 2. ) VERSATILE GLOBAL SDN. BHD. 3. ) CHESTER DYNASTY INTERNATIONAL SDN. BHD. PHANG TEE YONG

Citation

BA-24NCC-94-08/2024 (Mahkamah Tinggi)
Court

High Court
Case number

BA-24NCC-94-08/2024 (Mahkamah Tinggi)

The originating summons was dismissed because plaintiffs failed, on the affidavits before the court, to prove that the Defendant committed breaches amounting to oppression under s.346; key factual disputes (existence and effect of later agreement, causation of loss, alleged abandonment) could not be resolved on affidavit and require a full trial, and the existence of substantially similar pending proceedings in the High Court at Taiping reinforced that the OS was inappropriate and risked multiplicity.
17 Nov 2020

JAYA SUDHIR A/L JAYARAM 1. DATO' SERI TIMOR SHAH RAFIQ 2. NAUTICAL SUPREME SDN BHD 3. AZIMUTH MARINE SDN BHD 4. NAUTILUS TUG & TOWAGE SDN BHD

Citation

WA-22NCC-165-05/2017 (Mahkamah Tinggi)
Court

High Court
Case number

WA-22NCC-165-05/2017 (Mahkamah Tinggi)

On the evidence and contemporaneous documents the court found the alleged Collateral Understanding unproven; the Shareholders Agreement governed transfers and pre-emption rights applied; Sudhir knowingly procured and dishonestly assisted AMSB's breach of the Shareholders Agreement and associated fiduciary duties; therefore equitable relief in the form of mandatory retransfer of the 100,000 NTT shares to Azimuth Marine (AMSB) was ordered and Sudhir's other declarations failed, except his appointment as director of NTT was valid.

Malaysia Case Law

1. ) TOP CAPITAL VENTURES SDN. BHD. 2. ) VERSATILE GLOBAL SDN. BHD. 3. ) CHESTER DYNASTY INTERNATIONAL SDN. BHD. PHANG TEE YONG

JAYA SUDHIR A/L JAYARAM 1. DATO' SERI TIMOR SHAH RAFIQ 2. NAUTICAL SUPREME SDN BHD 3. AZIMUTH MARINE SDN BHD 4. NAUTILUS TUG & TOWAGE SDN BHD