TASTOD CONSTRUCTION (M) SDN BHD v CONNECTION VENTURES SDN BHD
Catchwords
Company law — Winding up — Fortuna injunction — Stay of winding-up petition — Prohibition against presentation/continuation of petition — Companies Act 2016 s. 465(1)(e) Insolvency — Bona fide dispute on debt — Retention sum under deed of settlement — Whether debt genuinely disputed on substantial grounds — Debt forming subject matter of pending civil suit Practice and procedure — Abuse of winding-up jurisdiction — Winding up as pressure tactic — Draconian remedy — Alternative forum more appropriate Injunctions — Fortuna Holdings principles — Irreparable damage — Petition with no reasonable prospect of success — Pacific & Orient Insurance Co Bhd v Muniammah Muniandy applied Evidence — Financial solvency — Going concern — Ongoing projects, future income and banking facilities — No commercial insolvency shown Outcome – Fortuna injunction allowed — Winding-up petition stayed pending disposal of related civil suit — Costs awarded
Practice Areas
Judges (1)
Judgment
Read the full judgment on the official Malaysia Courts portal.
Read on eJudgmentSource: eJudgment (ca-28ncc-2-01-2025)