29 Jan 2024
SS MINERALS TRADING SDN BHD 1. ) IBRAHIM BIN MAT SEDDEK 2. ) MOHAMMAD AZAHAN BIN MAT SEDDEK 3. ) FAROUK RIZAL BIN MAT NORI
- Citation
- WA-22NCvC-275-06/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCvC-275-06/2020 (Mahkamah Tinggi)
On the balance of probabilities the plaintiff proved that the directors, who controlled Maser, knowingly facilitated fraudulent/insolvent trading by allowing dissipation of assets, destruction/non-production of company records and restructuring to defeat creditors; exceptional circumstances and interest of justice justified lifting the corporate veil under s.540 CA 2016, so the Ds are jointly and severally liable for the company's debt, interest and costs.