5 Jul 2022
Wong Poh Lum Tetuan Sulaiman & Taye
- Citation
- W-02(NCC)(W)-982-08/2020 (Mahkamah Rayuan)
- Court
- NCC
- Case number
- W-02(NCC)(W)-982-08/2020 (Mahkamah Rayuan)
Directors who were mandatory signatories and could not explain the dissipation of substantial company funds were knowingly parties to carrying on business with intent to defraud creditors; a creditor may recover directly from such directors under s.304 CA 1965 / s.540 CA 2016; ordering payment to the liquidator in this plaintiff-initiated action was erroneous and the plaintiff was entitled to direct payment of RM5,907,500 (plus interest); High Court erred in adjudicating IRD debt as IRD was not a party.