2 Jan 2024
DAMAI CITY SDN BHD PENCELAH 1. ) Grand Dynamic Builders Sdn Bhd 2. ) MCC OVERSEAS (M) SDN. BHD. 3. ) Malayan Banking Berhad
- Citation
- WA-24NCC-465-08/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-465-08/2023 (Mahkamah Tinggi)
Restraint was set aside because the Applicant failed to comply with mandatory statutory requirements in s368(2) — notably misclassification of related party creditors and failure to secure the requisite majority nomination — rendering the restraining order void ab initio; additionally the interveners demonstrated the scheme was likely to fail under s366(3).