Malaysia Case Law: Decisions & Judgments | LexChat

Topic

Removal of liquidators

Legal area

Court

10 Jul 2024

Genisys Integrated Engineers PTE LTD 1. ) Onn Kien Hoe 2. ) Mok Yuen Lok

Citation

WA-28PW-406-09/2023 (Mahkamah Tinggi)
Court

High Court
Case number

WA-28PW-406-09/2023 (Mahkamah Tinggi)

The Court found sufficient cause to remove the Respondents: prolonged and significant misappropriation of company funds while under the Respondents' control demonstrated a total lack of supervision amounting to gross negligence and unprofessional conduct; credibility issues over Forms 75 signatures, demonstrated bias and undue delay in finalising a solvent liquidation supported removal under s482 CA 2016.
28 Apr 2023

Abdul Rahman Bin Zainal Baltasar Bin Maskor PIHAK TERKILAN SRI ALAM SDN BHD (In Creditors' Voluntary Liquidation)

Citation

WA-28PW-94-02/2022 (Mahkamah Tinggi)
Court

High Court
Case number

WA-28PW-94-02/2022 (Mahkamah Tinggi)

On the balance of probabilities the joint liquidators demonstrated lack of independence and impartiality (notably by proceeding with the COI meeting of 19.11.2020 without creditor representatives), failed or unduly delayed compliance with court Consent Orders (failure to pursue recovery of significant foreign assets and failure to deposit land compensation as ordered), and thereby 'cause shown' existed under s453(2) to remove them; the court exercised its discretion to remove the joint liquidators and appointed Ralph Ravin Ratnaswamy as liquidator as being in creditors' and contributories' in…