21 Mar 2022
PEMPETISYEN TER CHIN HENG 1. ) CHIPTAR HOLDINGS SDN BHD 2. ) TER THIAN TIN 3. ) TER WEI HONG 4. ) LI YUHUA 5. ) The Personal Representative of The Estate of The Yu Chai @ Ter Swee Leong
- Citation
- WA-28NCC-445-07/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-28NCC-445-07/2021 (Mahkamah Tinggi)
The OS for a Fortuna injunction was dismissed because the petition had been advertised/gazetted, there was no status quo to preserve, no prima facie irreparable harm was shown and the OS was an abuse aimed at changing board composition; however, on the Petition the court found a complete breakdown in mutual trust and confidence among shareholders/directors such that it was just and equitable to wind up the Company under s465(1)(h); accordingly the petition was allowed, R.R. Ratnaswany (Ralph Ravin Ratnaswany) was appointed liquidator and costs were awarded to the petitioner as set out in the…