ADEMCO SECURITY GROUP PTE. LTD. v XECURETRONIX SDN. BHD.
Catchwords
Shareholders’ Agreement – Corporate governance – Is the Defendant bound by the Shareholders’ Agreement? – Shareholders’ Agreement not binding on Defendant (company not a party). Loan vs Capital Investment – Interest on Advances – Are the funds advanced loans or capital contributions? – Defendant claimed the funds were shareholder contributions, not loans. – The agreement reflects intent – advances beyond RM 350,000 are loans with 8% interest. – No evidence of conversion of loans to capital or shareholding. Estoppel – Is the Plaintiff estopped from filing this suit due to a previous withdrawal? – Plaintiff had the liberty to refile the suit after withdrawal of the earlier claim.
Practice Areas
Judges (1)
Judgment
Read the full judgment on the official Malaysia Courts portal.
Read on eJudgmentSource: eJudgment (wa-22ncc-269-04-2024)