29 Nov 2022
DATO' CHANG JONG YU 1. ) DATO' SERI YONG TU SANG 2. ) Yong Hin Siong [ Notis Pemberhentian Di Kandungan 37] 3. ) Yong Eva 4. ) KUALA IBAI DEVELOPMENT SDN BHD PENCELAH DR. LAI CHEE CHUEN (JIM)
- Citation
- WA-24NCC-44-01/2022 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-44-01/2022 (Mahkamah Tinggi)
The court found that the unilateral removal of company books, the passing of resolutions in breach of the shareholders' agreement in a quasi‑partnership context, and procuring JDAs that diverted subsidiary assets to companies related to the 1st defendant amounted to oppressive conduct under section 346 Companies Act 2016; accordingly the originating summons was allowed and an independent valuer was to be appointed to determine fair value of the plaintiff's shares and to audit the plaintiff's advances.