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HIGH COURT MALAYA KUALA LUMPUR
NG SWEE PEN & ORS – Appellant
Versus
WALLA ENTERPRISE SDN BHD – Respondent
| Table of Content |
|---|
| 1. lack of urgency noted in the delay of applying for mareva injunction. (Para 1 , 5 , 20) |
| 2. underlying facts of share sale agreement and disputes. (Para 6 , 10 , 12) |
| 3. required evidence for establishing a risk of asset dissipation. (Para 14 , 31 , 32) |
| 4. delay in filing affects legitimacy of claim and urgency. (Para 21 , 33) |
| 5. conclusion on dismissal of application with costs awarded. (Para 46) |
(Enclosure 54)
Introduction
[1] The defendant applies for a Mareva injunction against the 1st to 5th plaintiffs. The defendant sought to restrain the plaintiffs from disposing of assets up to the value of RM1,880,953.20 ("Impugned Sum") pending disposal of the present action. This amount represented the sum claimed in the defendant's counterclaim.
[2] Additionally, the defendant sought for an order to compel the 1st to 5th plaintiffs to deposit the Impugned Sum into a joint account. The joint account is to be operated jointly by the solicitors of both parties.
[3] The underlying dispute stemmed from a share sale agreement dated 1 December 2021 ("SSA") between the parties. The SSA pertains to the sale of shares in the 6th plaintiff company which owned ag
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