10 Nov 2021
LOH TECK WAH LIM PANG KIAM & 2 ORS
- Citation
- WA-24NCC-154-03/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-154-03/2021 (Mahkamah Tinggi)
Leave to commence derivative proceedings was refused because the applicant failed to establish a prima facie cause of action with a likelihood of success and was not acting in good faith — the evidence (including a special audit and repayment records) showed Tian An had no outstanding liability to the 3rd Respondent following a lawful transfer and repayments to PNLBS, and the application was motivated by collateral personal/competitive purposes rather than the company's interest.