6 Dec 2023
JAKS ISLAND CIRCLE SDN. BHD. 1. ) EE SHIU LOONG 2. ) LOH AH HONG 3. ) CHEAH OLIVER PHEE-CHYE 4. ) ONG FOO CHONG 5. ) CHUNG SHEH LEE 6. ) TAM WEI EE 7. ) NEW WE-JIAN 8. ) FOO CHEK LEONG 9. ) CHAN YEE LAI 10. ) HWEE HON FAI (XU HANHUI)
- Citation
- WA-12ANCvC-67-05/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-12ANCvC-67-05/2023 (Mahkamah Tinggi)
Because the SPA created reciprocal contractual obligations amounting to mutual dealings existing before the commencement of the voluntary winding up, section 526 CA 2016 applied and permitted statutory set-off; therefore the purchasers were entitled to set off the 20% balance of the purchase price against the LAD and to withhold payment; the appeal was dismissed.