JIMAT JIMAT FRESH & FROZEN MART SDN BHD (IN LIQUIDATION) B2B FINPAL SDN BHD

pa-28pw-26-08-2023 High Court (Mahkamah Tinggi) 2 December 2024 • PA-28PW-26-08/2023 • 10 min read

2 cases cited (0 SG, 2 foreign)

Outcome

For these reasons, I allow the Application to terminate the winding up of the Company, with costs of RM7K to be paid by the Petitioner to the Applicants by 3.1.2025. Costs are subject to the allocatur.

Quoted verbatim from the judgment of High Court (Mahkamah Tinggi) (pa-28pw-26-08-2023). Read the full judgment on the official Malaysia Courts portal for the complete decision.

Catchwords

1. The subject Company first filed an application to be placed under judicial management—for the Court to appoint a judicial manager to rescue it from its financial problems. The Petitioner then filed a winding up petition against the Company (winding up Petition). The Company did not appear at the Petition hearing. The winding up order was granted. The Company was put into liquidation. 2. The shareholders of the Company now file an Application to terminate the winding up (Application). Should the Application be allowed?

Practice Areas

Company Law Bankruptcy & Insolvency

Judges (1)

Kenneth Yoong Ken Chinson St James Delivered

Counsel (5)

Maylee Gan & Tai Firm Prem & Associates Firm Ayiesha Counsel Petitioner Maylee Gan Counsel Petitioner Tanusha Manickam Counsel Applicant

Parties (2)

B2B FINPAL Sdn Bhd Petitioner JIMAT JIMAT FRESH & FROZEN MART Sdn Bhd (IN LIQUIDATION) Applicant

Statutes Cited

Companies Act 2016 (Cap 777)

Cases Cited (2)

MY (2)

[2019] 4 CLJ 1 [2019] MLJU 148

Judgment

Read the full judgment on the official Malaysia Courts portal.

Read on eJudgment

Source: eJudgment (pa-28pw-26-08-2023)