22 Apr 2025
CJ POLYMERS SDN BHD 1. ) Kerk Han Meng [Notice Of Discontinuance At Encl. 27] 2. ) LEE YU MENG 3. ) KUA CHIN WEE 4. ) Sim Chu Hu
- Citation
- W-02(IM)(NCC)-1631-09/2024 (Mahkamah Rayuan)
- Court
- IM
- Case number
- W-02(IM)(NCC)-1631-09/2024 (Mahkamah Rayuan)
The Court of Appeal affirmed the High Court finding that a quasi‑partnership existed between Sim and Kerk which survived the admission of new shareholders; Sim’s unilateral exclusion from management and withdrawal of perks without a fair buyout constituted oppression under s.346; allegations of misconduct by Sim were unproven in the oppression proceedings and therefore irrelevant to defeat relief; the buyout order was appropriate but CJ Polymers as company was removed from the buyout obligation and the remaining shareholders (Kerk, Eric Kua, Lee) were ordered to buy out Sim proportionately; c…