21 Jan 2025
V Medical Services M Sdn Bhd Swissray Asia Healthcare Co. Ltd
- Citation
- 02(f)-1-02/2024(W) (Mahkamah Persekutuan)
- Court
- f
- Case number
- 02(f)-1-02/2024(W) (Mahkamah Persekutuan)
The Federal Court adopted the Sian approach: when a winding-up petition rests on a debt that is the subject of an arbitration agreement the Companies Court must apply the higher insolvency threshold and only restrain, stay or dismiss the petition if the debt is genuinely disputed on substantial grounds; resort to arbitration follows if that higher test is met. The Fortuna injunction was reinstated because the Court found a genuine and substantial dispute on the material facts and admitted fresh evidence affecting the assessment.