1 Aug 2022
PEMPETISYEN Thalia Rohaina binti Abdul Latiff for the Petitioner [Messrs Rohaina & Co.] Teoh Chye Yi and Ng Sai Yeang for the Respondent [Messrs Tetuan Raja, Darryl & Loh] PIHAK TERKILAN Angel Ngu for the Bank Pembangunan Malaysia [Messrs L
- Citation
- WA-28NCC-925-12/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-28NCC-925-12/2021 (Mahkamah Tinggi)
The court, exercising its discretion under s465(1) Companies Act 2016, dismissed the winding up petition because the respondent was under receivership with secured creditors, the business and essential contracts were being preserved, the power plant produced improved cashflow and supplied public electricity such that winding up would yield no practical benefit to creditors and would risk public interest; preservation of the going concern outweighed the petitioner's right to wind up.