25 Oct 2021
1. ) HO SHEN LEE (M) SDN BHD 2. ) Tan Ken Meng 3. ) Khoo Chun Fun LIM SHEN LEE
- Citation
- N-02(NCC)(A)-760-04/2019 (Mahkamah Rayuan)
- Court
- NCC
- Case number
- N-02(NCC)(A)-760-04/2019 (Mahkamah Rayuan)
Appeal allowed and High Court winding-up order set aside because petitioner failed to prove the statutory grounds under s465(1)(f) and (h); contested acts were internal management decisions lawful under the M&A, the disputed funds were used as working capital and not dissipated, the petitioner acted in bad faith (conspiracy with third party and misrepresentations to banks) and the company remained solvent with its substratum intact so winding up as a last resort was not justified.