Malaysia Case Law: Decisions & Judgments

Topic

Share allotment and registration

Legal area

Court

5 Aug 2022

Loh Teck Wah 1. ) Liew Chia Soon 2. ) Fintree Capital Sdn Bhd

Citation

WA-24NCC-85-02/2022 (Mahkamah Tinggi)
Court

High Court
Case number

WA-24NCC-85-02/2022 (Mahkamah Tinggi)

Loh failed to discharge the high evidentiary burden to prove a trust over Liew’s shares given absence of documentary proof and his inconsistent prior position in JM 1 (judicial estoppel); the allotment to PNLBS and appointments were valid exercises of Liew’s authority as sole director/shareholder; granting the reliefs would place Loh in prohibited conflict under s218 Companies Act 2016 and would be contrary to public policy and illegality principles, therefore both originating summonses are dismissed.
5 Aug 2022

Loh Teck Wah 1. ) Liew Chia Soon 2. ) Fintree Capital Sdn Bhd 3. ) PNL Business Services Sdn Bhd 4. ) Lim Pang Kiam 5. ) Yap Chee Kheng

Citation

WA-24NCC-611-04/2022 (Mahkamah Tinggi)
Court

High Court
Case number

WA-24NCC-611-04/2022 (Mahkamah Tinggi)

Plaintiff failed to prove a trust over Liew's shares because there was no clear, documentary or unequivocal evidence of intention and the plaintiff's prior assertions in JM 1 that he was a creditor amounted to judicial estoppel; the allotment of shares to PNLBS and appointment of directors were valid acts by Liew as sole director and shareholder; granting the relief sought would place Loh in conflict with duties under Companies Act s218 and offend public policy under the Patel framework, therefore both originating summonses must be dismissed.

Malaysia Case Law

Loh Teck Wah 1. ) Liew Chia Soon 2. ) Fintree Capital Sdn Bhd

Loh Teck Wah 1. ) Liew Chia Soon 2. ) Fintree Capital Sdn Bhd 3. ) PNL Business Services Sdn Bhd 4. ) Lim Pang Kiam 5. ) Yap Chee Kheng