12 May 2020
SIN HAI ESTATE BHD ; LIM JIT KIM @ LIM TIAN JEE & 18 OTHERS SING LIAN SDN BHD ; GOH SIEW KOON @ ENG SING KUAN & 3 OTHERS
- Citation
- WA-28PW-499-11/2018 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-28PW-499-11/2018 (Mahkamah Tinggi)
Enc.380 (liquidator's cash distribution) was dismissed and Enc.1 (distribution in specie of Sing Lian shares to Sin Hai contributories) was allowed because: (a) res judicata did not apply as the earlier dismissal was for an incomplete proposal and did not decide the substantive issue; (b) a distribution in specie in a solvent winding up does not amount to prohibited financial assistance under s.67(1) nor is it necessarily void under s.223/s.233 where the winding‑up courts sanction the transfers; (c) contributories' wishes (majority by value) are material and must be given regard by the liquid…