2 Mar 2022
MDSA RESOURCES SDN BHD Adrian Sia Koon Leng
- Citation
- M-02(IM)(NCC)-380-02/2021 (Mahkamah Rayuan)
- Court
- IM
- Case number
- M-02(IM)(NCC)-380-02/2021 (Mahkamah Rayuan)
The High Court's refusal to sanction the scheme and to extend the restraining order was correct and is affirmed because the scheme improperly lumped related Hatten Group creditors with disparate third‑party creditors into a single class that was not fairly representative, there was material non‑disclosure about related‑party debts and terms, and the proposed scheme was uncertain and unworkable; the restraining order was contingent on a valid sanction and could not be extended, and the intervention by the SPV was unnecessary and unjustified.