30 Oct 2025
Malayan Banking Berhad GULA PERAK BHD (DALAM LIKUIDASI)
- Citation
- B-02(IM)(NCC)-492-03/2023 (Mahkamah Rayuan)
- Court
- IM
- Case number
- B-02(IM)(NCC)-492-03/2023 (Mahkamah Rayuan)
The Court allowed the appeals, holding that the ex parte leave application and the Scheme were tainted by abuse of process and lack of bona fides, material proofs of debt were improperly admitted and related‑party votes (notably the guarantor) distorted the statutory 75% majority; the sanctioning judge gave a non‑speaking judgment and failed to apply required legal tests (statutory compliance, fair representation, bona fide majority, and reasonableness), such that the August 2022 Order, March 2023 Order and July 2023 Order were set aside and the Scheme declared invalid.