18 Jan 2023
GOLDEN AFFINITY DEVELOPMENT SDN BHD 1. ) ES ENG SOON HOLDING SDN BHD 2. ) LIM BOON KANG 3. ) LIM BOON HUNG 4. ) SEE KOK SENG
- Citation
- WA-22NCC-210-05/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-210-05/2020 (Mahkamah Tinggi)
The court held CA1965 applied to the December 2016 dividend and the dividend was paid out of profits as evidenced by financial statements, therefore the declaration was lawful; LAD claims had not crystallised at the time and fraud/fraudulent trading and conspiracy claims were not proved (deficient pleading, lack of contemporaneous evidence, no police report, infirmities in forensic evidence); four properties accepted at market value by JPPH while two properties were under-valued leading to limited recovery orders; Suit 472 largely dismissed except limited recovery for two properties; Suit 210…