28 Mar 2025
KENANGA INVESTORS BERHAD 1. ) IMPIANA SDN BHD 2. ) ISMAIL @ FAROUK BIN ABDULLAH
- Citation
- WA-22NCC-528-10/2022 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-528-10/2022 (Mahkamah Tinggi)
The court held that the plaintiff's claim is contractual and enforceable: defendants, having contracted to redeem and pay dividends, were obliged to take lawful steps (including fresh share issue or capital measures) to effect redemption and cannot rely on statutory prohibitions resulting from their own inaction; consequently the event of default occurred and plaintiff is entitled to enforce the LAD at 2% per month; the 1st defendant's letters are without prejudice and inadmissible as admissions.