1 Aug 2022
PEMPETISYEN COUNTRY EARTH SDN BHD PESAKA TECHNOLOGIES SDN BHD PIHAK TERKILAN Bank Pembangnan Malaysia Bhd
- Citation
- WA-28NCC-925-12/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-28NCC-925-12/2021 (Mahkamah Tinggi)
The Court exercised its discretion to dismiss the winding up petition because preservation of the Respondent as a going concern and continuity of an essential public service (local energy supply) outweighed the Petitioner’s claim: the Receiver & Manager maintained and improved operations, the only material assets are project‑specific plant likely to be scrapped if wound up, secured creditors exist and the Petitioner would be paid only from any surplus, so winding up would not benefit creditors or the public.