Malaysia Case Law: Decisions & Judgments | LexChat

Topic

Scheme of arrangement (s366 companies act 2016)

Legal area

Court

10 Oct 2023

AMBANK (M) BERHAD GLOBALCON HOLDING (M) SDN BHD

Citation

BA-24FC-355-05/2023 (Mahkamah Tinggi)
Court

High Court
Case number

BA-24FC-355-05/2023 (Mahkamah Tinggi)

Defendant failed to establish any statutory, common law or equitable cause to the contrary; the scheme was not sanctioned and no stay was obtained; Plaintiff complied with s256 NLC and Order 83 ROC 2012; therefore the court was obliged to grant the Order for Sale and costs to the Plaintiff.
6 Feb 2020

BHL GEMILANG SDN. BHD. PENCELAH TETUAN DENNIS NIK & WONG

Citation

WA-24NCC-500-09/2019 (Mahkamah Tinggi)
Court

High Court
Case number

WA-24NCC-500-09/2019 (Mahkamah Tinggi)

Leave to intervene and to proceed with the winding up petition was refused because the Proposed Intervener, an unsecured creditor, failed to show that intervention should displace a bona fide, viable scheme under s366; allowing the intervention would disrupt and likely frustrate the proposed rescue of the development and prejudice a large class of purchasers and public interest, thereby justifying the exercise of the court's discretion to dismiss the application.