18 Jan 2023
GOLDEN AFFINITY DEVELOPMENT SDN BHD (DALAM LIKUIDA 1. ) LIM YOK WAH 2. ) LIM BOON KANG 3. ) SEE KOK SENG 4. ) LEE HAW HANN 5. ) ES ENG SOON HOLDINGS SDN BHD 6. ) ES ENG SOON PROPERTIES SDN BHD 7. ) HOE FOONG DEVELOPMENT SDN BHD 8. ) LEONG T
- Citation
- WA-22NCC-472-08/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-472-08/2019 (Mahkamah Tinggi)
The dividend declaration of RM27,000,000 was lawful because it was made under the CA 1965 from profits (retained profit shown in audited accounts) and CA 2016 is not retrospective; Plaintiff failed to prove fraudulent trading or conspiracy on balance of probabilities, proof of debt adjudication by the Liquidator was flawed and some property valuations were accepted by independent valuer JPPH leading only to limited recovery for two under-valued lots; given the Liquidator's conduct and reliance on an internally linked forensic firm, costs are ordered personally against the Liquidator.