Malaysia Case Law: Decisions & Judgments | LexChat

Topic

Fiduciary duties in joint ventures

Legal area

Court

24 May 2022

WA-28NCC-611-09/2021 (Mahkamah Tinggi)

Citation

WA-28NCC-611-09/2021 (Mahkamah Tinggi)
Court

High Court
Case number

WA-28NCC-611-09/2021 (Mahkamah Tinggi)

The company had effectively suspended its only business (the hotel) from January 2019 and there was a collapse of the joint-venture substratum and an irretrievable breakdown of trust and confidence caused by the majority shareholder's conduct; consequently it was just and equitable to wind up the company under s.465(1)(c) and s.465(1)(h); the Court appointed the nominated approved liquidator and awarded costs.
17 Nov 2020

JAYA SUDHIR A/L JAYARAM 1. DATO' SERI TIMOR SHAH RAFIQ 2. NAUTICAL SUPREME SDN BHD 3. AZIMUTH MARINE SDN BHD 4. NAUTILUS TUG & TOWAGE SDN BHD

Citation

WA-22NCC-165-05/2017 (Mahkamah Tinggi)
Court

High Court
Case number

WA-22NCC-165-05/2017 (Mahkamah Tinggi)

On the evidence and contemporaneous documents the court found the alleged Collateral Understanding unproven; the Shareholders Agreement governed transfers and pre-emption rights applied; Sudhir knowingly procured and dishonestly assisted AMSB's breach of the Shareholders Agreement and associated fiduciary duties; therefore equitable relief in the form of mandatory retransfer of the 100,000 NTT shares to Azimuth Marine (AMSB) was ordered and Sudhir's other declarations failed, except his appointment as director of NTT was valid.