21 Jul 2023
GLOBALMARINER OFFSHORE SERVICES SDN. BHD. 1. ) TH HEAVY ENGINEERING BERHAD [Digulungkan secara sukarela pada 08.09.2023] 2. ) XXXX 3. ) Nor Badli Munawir Bin Mohamad Alias Lafti
- Citation
- WA-22NCC-374-11/2016 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-374-11/2016 (Mahkamah Tinggi)
On the facts the court found THHE was unable to pay its debts at the time the Default Notice was issued (20 July 2016); consequently GMOS validly issued the Default Notice and Default Sale Notice under clauses 8.6(d) and 8.7; THHE breached the SHA by refusing to sell its 80% stake; clauses 8.6(d) and 8.7 do not contravene the pari passu or anti-deprivation rules as THHE was not in liquidation and the clauses were commercially justifiable; THHE failed to prove negligent misrepresentation, breach of fiduciary duty, or that associated entities formed a single commercial unit warranting veil lift…