23 Dec 2024
GOLDEN PALM GROWERS BERHAD MTRUSTEE BERHAD PENCELAH 1. ) Ling Ngong Hiang (Menyaman Dalam Kapasitinya Sendiri Dan Sebagai Wakil Bagi Penanam-penanam Dalam Senarai Yang Dilampirkan Dalam Kandungan 12 Di Mahkamah Tinggi) 2. ) LING NGONG HIANG
- Citation
- WA-24NCC-369-07/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-369-07/2019 (Mahkamah Tinggi)
Creditors whose debts do not constitute costs or expenses 'incurred in relation to the sale' (i.e. debts incurred prior to winding up or for company operational purposes such as outstanding salaries or working capital loans) are not Scheme Creditors and cannot be paid from Sale Proceeds; the Register of Growers is conclusive and shows GPGB held only 5 Grower Plots and GPGB is not entitled to refund because its plots did not entitle it to Net Yield; Net Sale Proceeds are to be distributed pari passu to entitled Growers after deduction of sale-related costs and approved Scheme creditors.