JUDGMENT

Ahmad Murad Abdul Aziz J:

Introduction

[1] Enclosure 1 is a Petition to wind up the Respondent pursuant to s 465(1)(e) read with s 466(1)(a) of the Companies Act 2016 ( CA 2016). This petition is premised on the failure by the Respondent to settle a judgment sum after the expiry of 21 days from service of a statutory notice under s 466(1)(a) of the on the Respondent.

[2] It is not disputed that the Petitioner did not obtain a judgment from any court before filing this Petition. However, it is trite law that it is not a requirement for the Petitioner to obtain a judgment before filing a petition to wind-up a company under s 465(1)(b) of the Companies Act 2016 (" CA 2016"), provided the debt is not bona fide disputed on substantial grounds.

[3] The Statutory Notice is premised on a breach of a Sales Agreement between the parties. The Respondent was to deliver 95,000 metric tonnes of fuel ("the Cargo") to the Petitioner. The Cargo was to be discharged between 24 December 2021 and 27 December 2021. The Respondent subsequently failed to deliver the Cargo to the Petitioner.

[4] The Petitioner contends that it had suffered losses amounting to USD1,158,628.06 from out-of-pock