21 Mar 2022
PEMPETISYEN David Thomas Matthews, Tina Ann Francis and Jason Tan Jen Hua for the Petitioner in the Petition and the 1st Defendant in the Originating Summons and mentioning on behalf of Amanah Raya Berhad as personal presentative representi
- Citation
- COMPANIES (WINDING-UP) PETITION NO. WA-28NCC-445-07/2021 (Mahkamah Tinggi)
- Court
- WINDING-UP
- Case number
- COMPANIES (WINDING-UP) PETITION NO. WA-28NCC-445-07/2021 (Mahkamah Tinggi)
The OS seeking a Fortuna injunction was dismissed because no prima facie irreparable harm or abuse sufficient to restrain the already-published petition was established and alternative proceedings did not displace the proper remedy; the petition to wind up Chiptar Holdings Sdn Bhd was granted on just and equitable grounds due to an established, irretrievable breakdown of mutual trust and confidence among principal shareholders/directors, rendering the company incapable of being managed as a going concern; a liquidator (Ralph Ravin Ratnaswany) was appointed and specified costs orders were made.