29 Sept 2023
SYMPHONY LIFE BERHAD 1. ) NG YING YIING 2. ) GOH HOCK CHOY 3. ) DOA HUAT HOLDINGS SDN BHD 4. ) ERNST & YOUNG CONSULTING SDN.BHD. 5. ) Brian Wong Wye Pong
- Citation
- BA-22NCvC-36-01/2022 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- BA-22NCvC-36-01/2022 (Mahkamah Tinggi)
On the balance of probabilities the court found the purchase transactions were not clandestine unilateral acts by the GCFO but involved the GCEO and management; plaintiff failed to prove Ng acted with mala fide intent or outside authority to the degree required to impose liability, so claims for loss of value and conspiracy were dismissed. Conversely, payments made under the Services Agreement to DOA (which effectively channelled fees to the undischarged bankrupt advisor) were recoverable because the agreement was not a genuine basis to retain those fees, and RM182,073.12 was ordered returned…