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HIGH COURT SABAH & SARAWAK KOTA KINABALU
NGEE SIE SIK – Appellant
Versus
LEE UK TEUNG & ORS – Respondent
| Table of Content |
|---|
| 1. overview of plaintiff's claims regarding share allotment. (Para 1 , 2 , 3 , 4 , 5) |
| 2. parties' relationships and connections. (Para 6 , 7 , 8 , 9) |
| 3. background of the disputes and management structure. (Para 10 , 11 , 12 , 13 , 14 , 15 , 16 , 17 , 18 , 19) |
| 4. events leading up to the contested share allotment. (Para 20 , 21 , 22 , 23 , 24 , 25 , 26 , 27) |
| 5. legal definitions of oppression in shareholder context. (Para 28 , 29 , 30) |
| 6. analysis of the necessity and justification for share allotment. (Para 31 , 32 , 33 , 34 , 35 , 36 , 37 , 38 , 39 , 40 , 41 , 42 , 43) |
| 7. examination of the egm resolutions and their implications. (Para 44 , 45 , 46 , 47 , 48 , 49 , 50 , 51 , 52 , 53 , 54 , 55 , 56 , 57) |
| 8. final court order and costs determination. (Para 58 , 59) |
Introduction
[1] The amended Originating Summons ("OS") at hand was filed by the Plaintiff pursuant to s 346 of the Companies Act 2016 .
[2] The Plaintiff sought to set aside the allotment of 700,000 shares in the 6th Defendant company (Yun Chung Property Sdn Bhd) to the 1st to 4th Defendants as follows:
(i) the 1st Defendant: 490,000 shares
(ii) the 2nd Defendant: 70,000 shares
(iii) the 3rd Defendan
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