10 Mar 2020
1. ) 1. Mercury Securities Sdn Bhd 2. JF Apex Securities Berhad 2. ) Pinerains Sdn Bhd 1. ) 1. Concrete Parade Sdn Bhd 2. Pinerains Sdn Bhd (By Original Action) 2. ) 1. Mercury Securities Sdn Bhd 2. JF Apex Securities Berhad 3. Apex Equity
- Citation
- 24NCC-345-06/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- 24NCC-345-06/2019 (Mahkamah Tinggi)
The applications to strike out were dismissed because the counterclaim was not plainly and obviously unsustainable: the trial judge had already found the shareholders' circular misleading and recognised a directors' duty to disclose; whether that duty extends to individual shareholders and whether directors are personally liable are fact questions requiring viva voce evidence and further submissions; the counterclaim therefore contains sufficient particulars and locus standi and must proceed to trial.