7 Mar 2025
CLASSIC MARITIME INC 1. ) LION DIVERSIFIED HOLDINGS BERHAD (DALAM LIKUIDASI) 2. ) Benapro Sdn. Bhd.
- Citation
- W-02(A)-1956-10/2022 (Mahkamah Rayuan)
- Court
- A
- Case number
- W-02(A)-1956-10/2022 (Mahkamah Rayuan)
The appellant failed to discharge the evidential burden that the liquidator breached his duty to obtain the best price; the liquidator acted within his discretion, ran a public tender and relied on a licensed corporate finance valuation (with a marketability discount) producing a sale price not shown to be undervalue; the 26 August 2021 directions were final and peremptory judicial orders appealable to this Court, so the appellant should have appealed rather than invoke section 517 to set aside a court order; accordingly the appeal is dismissed.