GOLDEN PALM GROWERS BERHAD v MTRUSTEE BERHAD PENCELAH 1. ) Ling Ngong Hiang (Menyaman Dalam Kapasitinya Sendiri Dan Sebagai Wakil Bagi Penanam-penanam Dalam Senarai Yang Dilampirkan Dalam Kandungan 12 Di Mahkamah Tinggi) 2. ) LING NGONG HIANG 3. ) Suruhanjaya Syarikat Malaysia (SSM) 4. ) Lim Keng Peo (Penyelesai Dilantik Menurut Perintah Mahkamah Tinggi Bertarikh 5.12.2019 Untuk Menggulung Skim Golden Palm Growers) 5. ) Perbadanan Pembangunan Ladang Rakyat Negeri Kelantan PIHAK TERKILAN LEE W...

wa-24ncc-369-07-2019 High Court (Mahkamah Tinggi) 22 December 2024 • WA-24NCC-369-07/2019 • 23 min read

Catchwords

Termination of the Scheme upon Winding up - Sections 65 and 67, Interest Schemes Act 2016 - Liquidator’s Application for Directions – Trust Deed - Whether there was any obligation to pay or refund under the Trust Deed - who should be entitled to claim over distribution for payments of the debts – what debts could be deducted-distinction between the Scheme and Company Creditors –‘costs and expenses incurred in relation to the sale’ to be treated as Scheme Creditors.No conclusive evidence that Plaintiff as the ‘Register of Growers’ as defined under the Trust Deed - Plaintiff not entitled to the refund from the ‘Sale Proceeds’. The pari passu distribution of the Net Sale Proceeds will be made only to the Growers in the Register of Growers as identified and in accordance with the number of Grower Plots.

Judges (1)

Ong Chee Kwan Delivered

Counsel (14)

Justin Voon Chooi & Wing Firm Lee, Ling & Partners Firm Lim Chee Wee Partnership Firm Masleena, Yee & Partners Firm Tan Shang Neng Firm Chris Lam Counsel Plaintiff Fadilah binti Abdul Wahab Counsel Intervener Jerry Ling Counsel Defendant Justin Voon Tiam Yu Counsel Intervener Muhammad Hasif bin Ghazali Counsel Defendant Nathalie Ker Si Min Counsel Applicant Ricci Oly Ting Counsel Plaintiff Tan Shang Neng Counsel Plaintiff Victor Pang Chee Siong Counsel Intervener

Parties (7)

GOLDEN PALM GROWERS BERHAD Applicant Lim Keng Peo (Penyelesai Dilantik Menurut Perintah Mahkamah Tinggi Bertarikh 5.12.2019 Untuk Menggulung Skim Golden Palm Growers) Intervener MTRUSTEE BERHAD Respondent PERBADANAN PEMBANGUNAN LADANG RAKYAT NEGERI KELANTAN Intervener Suruhanjaya Syarikat Malaysia Intervener Lee Wee Kwan Aggrieved Party Ling Ngong Hiang Intervener

Statutes Cited

Companies Act 1965 (Cap 777)
s 95

Judgment

Read the full judgment on the official Malaysia Courts portal.

Read on eJudgment

Source: eJudgment (wa-24ncc-369-07-2019)