6 Jun 2023
UNITED OVERSEAS BANK LIMITED PEMILIK DAN ATAU PENCARTER DEMIS DAN ATAU PIHAK YANG BERKEPENTINGAN TERHADAP KAPAL ATAU VESEL LIMIN ROSMINA PENCELAH PETRONAS CARIGALI SDN BHD PIHAK TERKILAN 1. ) KPI OCEANCONNECT PTE. LTD. 2. ) PETRONAS CARIGAL
- Citation
- WA-27NCC-1-01/2022 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-27NCC-1-01/2022 (Mahkamah Tinggi)
The court held that (1) the sheriff’s authorization to conduct a second round did not, in the absence of an express rejection, operate to reject or lapse valid first‑round offers under the Sheriff’s Terms and Conditions; (2) ARC Offshore India’s first‑round bid remained valid, open and extended for court consideration and therefore capable of acceptance; and (3) given the fair conduct of two tender rounds, market evidence and maintenance/advertising costs making further rounds unlikely to benefit creditors, the court exercised its discretion to approve a sale below the appraised value to ARC…