10 Nov 2025
GT NELSON REALTY SDN. BHD. 1. ) EVERHALL (M) SDN. BHD. 2. ) MAGNA PRIMA BERHAD
- Citation
- WA-22NCC-749-10/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-749-10/2023 (Mahkamah Tinggi)
The Letter of Appointment was admissible and valid (properly characterised as an ordinary agreement under Item 4 of the Stamp Act and not void for Rule 102 non-compliance); GT Nelson performed and was the effective cause of the RM56,000,000 sale and is entitled to 3% commission (RM1,680,000) from Everhall; however, the corporate veil will not be lifted — Magna Prima is a separate legal person, did not receive direct proceeds, the RM50 disposal formed part of a broader restructuring of insolvent subsidiaries and did not amount to concealment or evasion, therefore Magna Prima is not liable for…