Atan Mustaffa Yusoff Ahmad J:

Introduction

[1] Before the court are two applications concerning TH Heavy Engineering Berhad ("THHE"), a company currently under creditors' voluntary liquidation ("CVL"). The first is a petition filed by the Petitioners seeking the compulsory winding up of THHE pursuant to s 464(1) and (2) of the Companies Act 2016 (" CA 2016") and the appointment of private liquidators (Enclosure 1). The second is an application by Star Kris Services Sdn Bhd ("Star Kris"), an opposing creditor, seeking the appointment of its nominated liquidator instead of those proposed by the Petitioners (Enclosure 86).

[2] This petition represents a rare instance of "conversion" proceedings, where creditors seek to convert a voluntary liquidation into a court-supervised compulsory liquidation. This case is notable as being only the second such application in Malaysian legal history, with the first being decided over a century ago. As Mr David Mathews for the Petitioners submitted during oral arguments, "this is probably the second time that such an application has been made where companies have already voluntarily made a decision to wind up. The earlier case was decided o