1. ) SAPURA ENERGY BERHAD 2. ) SAPURA TMC SDN. BHD. 3. ) Sapura Fabrication Sdn Bhd 4. ) Sapura Offshore Sdn. Bhd. 5. ) Sapura Pinewell Sdn Bhd 6. ) Sapura Subsea Services Sdn Bhd 7. ) Sapura Petroleum Ventures Sdn Bhd 8. ) Sapura Drilling Probadi Sdn Bhd 9. ) Sapura Technology Solutions Sdn Bhd 10. ) Sapura Nautilus Sdn Bhd 11. ) Sarku Engineering Services Sdn Bhd 12. ) Sapura Marine Ventures Sdn Bhd 13. ) Sapura Engineering Sdn Bhd 14. ) Sapura Engineering (Offshore) Sdn Bhd 15. ) Sapura Ge...

wa-24ncc-85-02-2024 High Court (Mahkamah Tinggi) 5 March 2025 • WA-24NCC-85-02/2024 • 28 min read
17 cases cited (2 SG, 15 foreign)

Catchwords

Scheme of Arrangement - Section 366 Companies Act 2016 - Sanction application - Opposed ex-parte procedure - Foreign companies jurisdiction - Sufficient connection test - Four-stage test - Statutory compliance - Creditor classification - Fair representation - Pooling mechanism - Debt novation - Inter-conditional schemes - Liquidation alternative comparison - International effectiveness - Foreign representatives declaration - No blot test - Conditions precedent - Interim stay order - Post-sanction restraining order - Inherent jurisdiction - Court-to-Court Protocol Malaysia-Singapore - UNCITRAL Model Law recognition - Cross-border insolvency - Corporate rescue – Preserving majority creditor will and decision

Judges (1)

Wan Muhammad Amin bin Wan Yahya Delivered

Parties (34)

AIRSERVE MARINE TRAVEL PTE LTD Aggrieved Party AQUARIS OFFSHORE Sdn Bhd Intervener B.I.G INDUSTRIAL GAS Sdn Bhd Aggrieved Party B.I.G INDUSTRIAL GAS Sdn Bhd Intervener Brunei Shell Petroleum Company Sendirian Berhad Intervener CIMB BANK BERHAD Intervener DYNAMIC GUARDFORCE Sdn Bhd Intervener MALAYAN BANKING BERHAD Intervener MMA OFFSHORE Sdn Bhd Intervener NUSANTARA TEST SERVICES Sdn Bhd Intervener PETRONAS DAGANGAN BERHAD Intervener SAPURA ENERGY BERHAD Applicant SAPURA FABRICATION Sdn Bhd Applicant SAPURA OFFSHORE Sdn Bhd Applicant SAPURA TMC Sdn Bhd Applicant Sapura 1200 Ltd Applicant Sapura 3500 Ltd Applicant Sapura 900 Pte Ltd Applicant Sapura Dana SPV Pte Ltd Applicant Sapura Drilling Probadi Sdn Bhd Applicant Sapura Drilling Pte Ltd Applicant Sapura Engineering Sdn Bhd Applicant Sapura Geosciences Sdn Bhd Applicant Sapura Geosurvey Sdn Bhd Applicant Sapura Geotechnics Sdn Bhd Applicant Sapura Marine Ventures Sdn Bhd Applicant Sapura Nautilus Sdn Bhd Applicant Sapura Petroleum Ventures Sdn Bhd Applicant Sapura Pinewell Sdn Bhd Applicant Sapura Subsea Corporation Applicant Sapura Subsea Services Sdn Bhd Applicant Sapura Technology Solutions Sdn Bhd Applicant Sarku Engineering Services Sdn Bhd Applicant Keppel Shipyard Limtied Intervener

Case Significance

1. ) SAPURA ENERGY BERHAD 2. ) SAPURA TMC SDN. BHD. 3. ) Sapura Fabrication S... is a High Court (Mahkamah Tinggi) decision dated March 5, 2025 (citation: wa-24ncc-85-02-2024). The case was decided by Wan Muhammad Amin bin Wan Yahya.

What was the outcome of 1. ) SAPURA ENERGY BERHAD 2. ) SAPURA TMC SDN. BHD. 3. ) Sapura Fabrication S...?

1. ) SAPURA ENERGY BERHAD 2. ) SAPURA TMC SDN. BHD. 3. ) Sapura Fabrication S... is a High Court decision dated March 5, 2025. The case was heard by Wan Muhammad Amin bin Wan Yahya. See the full judgment for details.

Statutes Cited

Companies Act 2016 (Cap 777)
s 116 s 365 s 366 s 366(4)
Courts of Judicature Act 1964 (Cap 91)
Rules of Court 2012

Cases Cited (17)

SG (2)
[2016] SGHC 210 [2018] SGHC 259
UK (6)
[1892] 2 QB 573 [1972] 3 All ER 384 [1992] 1 WLR 672 [2001] EWCA Civ 1696 [2004] 1 WLR 1049 [2017] EWHC 2269
MY (9)
[1982] 1 MLJ 260 [1997] 1 MLJ 145 [2012] 9 CLJ 1071 [2014] 6 MLJ 56 [2018] 2 MLJ 1 [2018] 3 MLJ 715 [2021] 10 MLJ 942 [2022] 8 MLJ 604 [2023] 9 MLJ 465

Judgment

Read the full judgment on the official Malaysia Courts portal.

Read on eJudgment

Source: eJudgment (wa-24ncc-85-02-2024)