MEGA GREENVIEW SDN BHD v WANG SHYUN KHER
Catchwords
COMPANY LAW — Winding up — Fortuna injunction — Restraint against presentation of winding-up petition — Statutory notice of demand issued pursuant to ss 465(1)(e) and 466(1)(a) Companies Act 2016 — Whether debt bona fide disputed on substantial grounds — Whether proposed petition constituted abuse of process — Whether interim restraint ought to be granted pending inter partes hearing. COMPANY LAW — Winding up — Statutory demand — Debt founded on loan agreement bearing interest of 2.5% per month and subsequently 2% per month — Borrower alleging transaction constituted unlicensed moneylending arrangement — Whether legality of underlying transaction gave rise to substantial and genuine dispute as to indebtedness. MONEYLENDERS — Unlicensed moneylending — Loan agreement — High interest rates — Retention of first month’s interest upon disbursement — Third-party securities and powers of attorney — Whether transaction arguably constituted moneylending business — Whether agreement potentially unenforceable under Moneylenders Act 1951 and void pursuant to s 24 Contracts Act 1950. COMPANY LAW — Winding up — Fortuna principle — Debt disputed on bona fide and substantial grounds — Whether winding-up jurisdiction could be invoked as debt collection mechanism — Abuse of process. PRACTICE AND PROCEDURE — Injunction — Ex parte injunction — Fortuna injunction — Interim relief pending inter partes hearing — Adequacy of damages — Risk of irreparable commercial and reputational harm from presentation and advertisement of winding-up petition — Undertaking as to damages.
Practice Areas
Judges (1)
Judgment
Read the full judgment on the official Malaysia Courts portal.
Read on eJudgmentSource: eJudgment (ma-22ncc-13-06-2026)