28 Apr 2023
ARKITEK ZAINUDDIN HARUN SRI ALAM SDN BHD (IN CREDITORS VOLUNTRAY LIQUIDATION)
- Citation
- WA-28PW-342-07/2022 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-28PW-342-07/2022 (Mahkamah Tinggi)
On the balance of probabilities the Court found cause shown to remove the joint liquidators: they proceeded with a COI meeting on 19.11.2020 in the absence of creditor representatives (demonstrating lack of independence/unbias), failed to comply with parts of the Consent Orders (notably inadequate steps to recover substantial overseas funds and failure to deposit land compensation with designated solicitors), and thus were removed; the Court appointed Ralph Ravin Ratnaswamy as liquidator as he was suitably qualified and supported by majority creditors.