18 Aug 2022
IRIS CORPORATION BHD 1. ) TAN SRI RAZALI BIN ISMAIL 2. ) DATUK TAN SAY JIM 3. ) Yam Tunku Dato Seri Shahbuddin Bin Tunku Besar Burhanuddin 4. ) DATO HAMDAN BIN MOHD HASSAN 5. ) DATO EOW KWAN HOONG 6. ) CHAN FEOI CHUN 7. ) SYED ABDULLAH BIN
- Citation
- WA-22NCC-206-04/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-206-04/2019 (Mahkamah Tinggi)
The plaintiff failed to establish the directors breached statutory or fiduciary duties in approving the BCS investment; the directors' conduct fell within the statutory business judgment rule and, even if errors occurred, they acted honestly and reasonably and are exculpated under s.581 CA 2016; plaintiff also failed to mitigate loss. Claim dismissed with costs.