5 Mar 2026
KL PETROGAS SDN BHD SA Puncak Management Sdn Bhd
- Citation
- WA-24NCC(SOA)-14-07/2025 (Mahkamah Tinggi)
- Court
- SOA
- Case number
- WA-24NCC(SOA)-14-07/2025 (Mahkamah Tinggi)
A convening order under s.366(1) was granted to permit creditor meetings for a cross-class scheme; the court held that cross-class cramdown under s.368D is available, rejected applying the limited rationality test to dissenting classes and adopted a fairness test focused on equitable allocation of restructuring benefits (distribution of restructuring surplus) and found no obvious roadblock or unfair discrimination at the convening stage, leaving fact-sensitive abuse and bona fides issues to be litigated at sanction.