Malaysia Case Law: Decisions & Judgments

Topic

Companies (winding-up) rules compliance

Legal area

Court

3 Oct 2022

WONG WENG FOO & CO LONDON BISCUITS BERHAD (IN LIQUIDATION) PIHAK TERKILAN Jabatan Insolvensi Malaysia

Citation

WA-28PW-282-10/2021 (Mahkamah Tinggi)
Court

High Court
Case number

WA-28PW-282-10/2021 (Mahkamah Tinggi)

The liquidator acted within his statutory powers and commercial judgment to preserve and maximise asset value; retention of employees and payments were justified by the commercial objective of effecting a packaged sale and caused no loss; the Validation Order and relevant rules justify the remuneration and appointments; procedural non-compliance (if any) did not cause substantial injustice and were curable; applicant failed to show cause for removal; therefore PW 282 is dismissed and PW 139 is allowed to appoint Victor Saw as successor liquidator and discharge Lim San Peen.
3 Oct 2022

Kwan Will Sen and Pang Huey Lynn for the Liquidator [Messrs Lim Chee Wee Partnership] Tan Eng Kiat and Yap Bing Yew for the Wong Weng Foo & Co. [Messrs Gan, Lee & Tan]

Citation

WA-28PW-139-05/2021 & WA-28PW-282-10/2021 (Mahkamah Tinggi)
Court

High Court
Case number

WA-28PW-139-05/2021 & WA-28PW-282-10/2021 (Mahkamah Tinggi)

Court found the liquidator acted reasonably and lawfully: retention of employees and payments were commercially justified to maximise value and effect a packaged sale; payments and remuneration were validated by a prior Validation Order and within statutory powers; Rule 160 obligation to submit trading account applies only where a committee of inspection exists; any procedural non-compliance with Rule 98 did not cause substantial injustice and is curable; no cause shown to remove the liquidator and appointment of Victor Saw ensures continuity, therefore PW 282 dismissed and PW 139 allowed.

Malaysia Case Law

WONG WENG FOO & CO LONDON BISCUITS BERHAD (IN LIQUIDATION) PIHAK TERKILAN Jabatan Insolvensi Malaysia

Kwan Will Sen and Pang Huey Lynn for the Liquidator [Messrs Lim Chee Wee Partnership] Tan Eng Kiat and Yap Bing Yew for the Wong Weng Foo & Co. [Messrs Gan, Lee & Tan]