AMBANK (M) BERHAD v TOP BUILDERS CAPITAL BERHAD (formerly known as Ikhmas Jaya Group Berhad)

ba-28ncc-601-09-2024 High Court (Mahkamah Tinggi) 8 January 2025 • BA-28NCC-601-09/2024

Catchwords

Wound up on the ground that it is unable to pay its debts-failure to comply with statutory notice of demand issued under section 466(1)(a)-service of cause papers- rule 25(1) of the Companies (Winding -Up) Rules 1972-rule 24 of the Companies (Winding -Up) Rules 1972-debst are not disputed-no affidavit in opposition-presumption of insolvency-debts remain unpaid-unsatisfactory explanation or opposition given by the Respondent-no evidence to suggest that the company is solvent-no attempt to settle the debt-absence of payment confirms a state of financial distress-court may also order winding up if it is just and equitable to do so-the persistent default and silence of the company justifies the exercise of this discretion-presumption of insolvency stands unrebutted.

Practice Areas

Judges (1)

Raja Rozela binti Raja Toran Delivered

Parties (2)

AMBANK BERHAD Petitioner TOP BUILDERS CAPITAL BERHAD Respondent

Judgment

Read the full judgment on the official Malaysia Courts portal.

Read on eJudgment

Source: eJudgment (ba-28ncc-601-09-2024)