10 Jun 2021
Navamalar for the Applicant Joint Liquidator [Messrs Anad & Noraini] Mong Chun Seng and Chia Oh Sheng for RHB Bank Berhad [Messrs Lee Hishamuddin, Allen & Gledhill]
- Citation
- POST WINDING UP NO. WA-28PW-446-11/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- POST WINDING UP NO. WA-28PW-446-11/2020 (Mahkamah Tinggi)
No concluded binding fee agreement existed between the applicant and the chargee bank; charged property is subject to the secured creditor's rights and not company assets; accordingly the applicant is not entitled to draw remuneration or costs from proceeds of sale until the secured debt is fully paid and only then from any surplus; the court has jurisdiction to determine a reasonable remuneration to be taxed and payable from any such surplus; the applicant is released as joint liquidator and must tender bills for full taxation.