14 Nov 2023
1. ) Kumpulan Powernet Berhad 2. ) Powernet Industries Sdn Bhd 1. ) Woo Wai Mun 2. ) Moo Yong Kong Meng 3. ) Au Chan Chun 4. ) Tai Teck Soon 5. ) Powerfit Industries Sdn Bhd 6. ) Powernet Trading (M) Sdn Bhd PIHAK TERKILAN 1. ) RHB BANK BER
- Citation
- WA-22NCC-327-07/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-327-07/2020 (Mahkamah Tinggi)
On the evidence, the court found D1 and D3 engineered and effected the unauthorised disposal of P2's shares in D5 and D6 for RM10 each, procured and used P2's manufacturing licence and COs to effect 84 export transactions whose proceeds were diverted into D5/D6 accounts; D1 and D3 breached statutory duties (ss 213, 214, 218, 221 CA 2016), fiduciary and contractual duties, and committed fraud and dishonest assistance; D2 was credibly found to have been misled and is not liable; the third party claim against TP2 fails for lack of common liability or basis for indemnity or contribution; D1 and D…