10 Nov 2023
BIDARI EHSAN SDN BHD PENCELAH 1. ) KAMARULZAMAN BIN ABD JALIL 2. ) AZMAN BIN ATAN 3. ) MOHD ZAHIR BIN MAMAT@MOHAMAD 4. ) YAP CHOW TAI 5. ) DIONG SHEIH YEE 6. ) LIM HANG TEE 7. ) TUG KAI LUI 8. ) NORA AZLINA BT MOHD NOOR 9. ) ABDUL MALIK BIN
- Citation
- WA-24NCC-188-03/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-188-03/2023 (Mahkamah Tinggi)
The Court exercised its supervisory role at the sanction stage and held that although it had jurisdiction to hear the Originating Summons, the proposed scheme could not be sanctioned because it unjustifiably excluded other unsecured creditors in liquidation contrary to the pari passu principle and effected a deprivation of purchasers' proprietary rights by compelling surrender of property or acceptance of inadequate, unrelated sums; accordingly the scheme was not fair and equitable nor one an intelligent and honest member of the class would reasonably approve.