2 Nov 2021
Bryan Teo Wee Xin and Carmen Yen Pei Ying for the 1st Respondent/Applicant [Messrs Joel & Mei] LAIN-LAIN Dato’ Shamesh Jeevaretnam and Charlotte Diana Williams for the Petitioner [Messrs Jeeva Partnership]
- Citation
- WINDING-UP PETITION NO. WA-28NCC-667-11/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WINDING-UP PETITION NO. WA-28NCC-667-11/2020 (Mahkamah Tinggi)
The Court held that s469 did not operate at the pre-hearing stage but, exercising inherent jurisdiction and pursuant to the conditional stay order, granted leave for the 1st Respondent to enter into the proposed Deed of Settlement and Variation Agreement because the instruments would not dissipate assets, would improve the company's financial position, preserve the substratum and would not prejudice creditors or reduce the Petitioner's share value; leave was granted subject to required corporate approvals and resolutions and costs were in the cause.