28 Feb 2022
Ever-yield sdn Bhd Yap Keat Choon
- Citation
- S-02(NCvC)(W)-1824-09/2018 (Mahkamah Rayuan)
- Court
- NCvC
- Case number
- S-02(NCvC)(W)-1824-09/2018 (Mahkamah Rayuan)
The Court held that directors' remuneration payments were upheld where either proper board authority existed pursuant to shareholder delegation (Ever-Yield) or unanimous shareholder assent could be inferred (Duomatic) given sole-shareholder structures and audited disclosures; respondent's claims for loans and exchange cash-cheques were accepted on balance of probabilities due to documentary entries, audit records and appellants' failure to call rebuttal witnesses; however encashment of sizeable company cheques by the respondent after removal as director and during suspension constituted gross…