28 Feb 2020
LIM JIT KIM @ LIM TIAN JEE TAN YIAN PING GOH SIEW KOON @ ENG SING KUAN TEY LIONG SENG
- Citation
- WA-28PW-499-11/2018 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-28PW-499-11/2018 (Mahkamah Tinggi)
Enc.380 (liquidator's cash distribution proposal) is dismissed because it fails to resolve cross‑shareholdings, perpetuates circular distributions and escalating costs, and the withdrawn NCD meant the cash proposal was inadequately particularized; Enc.1 (distribution in specie of Sing Lian shares held by Sin Hai) is allowed because res judicata did not apply to the later complete proposal, a distribution in specie in a solvent winding up is permissible and does not constitute prohibited financial assistance under s67(1) nor necessarily contravene s223/233 provided appropriate court sanction i…