KUIK SIAN PING v Best World Marketing Resources PIHAK KETIGA Mega Fasteners (M) Sdn Bhd (Dalam Lukuidasi)
Catchwords
1. These are post–winding-up proceedings brought under the Companies Act 2016. 2. The application arises in the following context. A winding-up order had earlier been obtained by the Petitioner against the Company. Subsequently, a Proposed Intervener, in his capacity as a contributory and shareholder of the Company, applied to intervene and to set aside the said winding-up order. The Pegawai Penerima (Official Receiver), in the meantime, has already commenced the administration of the Company’s estate. 3. The present proceedings therefore do not concern the making of a winding-up order in the first instance, but rather the exercise of this Court’s discretion, at a post-liquidation stage, to set aside an order that has already taken effect and pursuant to which steps have been taken. Overriding Issues 4. Two principal issues arise for determination: (a) Whether the Proposed Intervener has the requisite locus standi to intervene in the present proceedings; and (b) If so, whether this Court ought to exercise its discretion under sections 492 and 493 of the Companies Act 2016 to set aside the winding-up order. 5. While the first issue concerns standing, the second and central issue concerns the proper exercise of the Court’s discretion in the context of an already operative winding-up order.
Judges (1)
Judgment
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Read on eJudgmentSource: eJudgment (pa-28pw-13-02-2025)