31 May 2021
SENTORIA BINA SDN BHD. 1. IMPAK KEJORA SDN BHD (Company No. 779801-V) 2. YUNG KONG CO BHD (Company No. 103194-T) 3. SCIB CONCRETE MANUFACTURING SDN BHD (Company No.: 200101019131 (554888-U) 4. YUNG KONG METAL WORKS CO BHD (Company No. 10181
- Citation
- WA-24NCC-519-11/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-519-11/2020 (Mahkamah Tinggi)
The Court sanctioned the proposed scheme because statutory convening and notice requirements were met, the scheme was approved by the requisite creditor majority and was a reasonable commercial proposal an intelligent and honest creditor might approve; where a guarantor is intrinsically involved in the scheme and the scheme provides for moratorium/variation of guarantor liabilities, the Court may sanction the scheme to bind the guarantor on the facts, and the earlier restraining order applicable to the guarantor was justified on those facts.