Malaysia Case Law: Decisions & Judgments | LexChat

Topic

Personal liability of shareholders

Legal area

Court

28 Jul 2022

EIGHT POWER SDN BHD 1. ) MYCREATIVE VENTURES SDN BHD 2. ) HASLINA BINTI ALI 3. ) LIM HUI RU 4. ) LEONG YEW LEONG

Citation

WA-12ANCC-41-03/2022 (Mahkamah Tinggi)
Court

High Court
Case number

WA-12ANCC-41-03/2022 (Mahkamah Tinggi)

The court held that the Sessions Court erred in entering summary judgment because material triable issues of fact and law exist as to whether shareholders incurred personal liability under the SSA and the letter of undertaking; therefore summary judgment was inappropriate and the matters must proceed to trial for viva voce evidence.
28 Jul 2022

1. ) HASLINA BINTI ALI 2. ) LIM HUI RU 3. ) LEONG YEW LEONG MYCREATIVE VENTURES SDN BHD

Citation

WA-12ANCC-39-03/2022 (Mahkamah Tinggi)
Court

High Court
Case number

WA-12ANCC-39-03/2022 (Mahkamah Tinggi)

The court allowed the appeals and set aside the Sessions Court's summary judgment because there are genuine triable issues of fact and law—including whether shareholders had enforceable obligations to procure or guarantee redemption and whether the letter of undertaking and indemnity covered payment of the Redemption Amount—which preclude summary determination and require viva voce evidence at trial.