15 Mar 2023
PIMINIK CAPITAL SDN BHD AKAY HOLDINGS SDN BHD
- Citation
- WA-22NCC-234-05/2022 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-234-05/2022 (Mahkamah Tinggi)
The court held the ad interim stay suspended the operation and the liquidators' powers so that leave from the winding up court under s.471(1) CA 2016 was not required at the time the writ was filed; Clause 9A merely provided for placement of acquisition proceeds as security and was not a condition precedent to the defendant's independent obligation to refund RM4,500,000; because the defendant raised no bona fide triable issue the plaintiff was entitled to summary judgment for RM4,500,000 and the defendant's strike out application was dismissed.