23 Jun 2023
JURUKUR BAHAN FPS SDN BHD LEONG KAH WENG PIHAK KETIGA 1. ) TEY HEONG TIONG 2. ) FOO CHOW LUH
- Citation
- WA-22NCC-214-05/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-214-05/2021 (Mahkamah Tinggi)
The SA unambiguously required surrender of the shares (including shares in identified sister/associate companies) upon premature resignation before retirement age and provided a fixed monetary exit compensation; the Companies were within the SA's scope by parties' shared understanding and common shareholding; defendant breached director duties; contra preferentum did not apply because clauses were not ambiguous. Consequently plaintiffs' claim for return of shares succeeded and defendant's counterclaim failed except for contractual compensation under clause H.