2017 MarsdenLR 3351
HIGH COURT MALAYA SHAH ALAM
BORHAN MOHD DOYA – Appellant
Versus
MAHA PERSADA CAPITAL SDN BHD; DATO IR HJ YUSNI MEON (APPLICANT/INTERVENER) – Respondent
[Companies (Winding Up) No: 28NCC-295-06/2015]
Important Points
Subject
Companies - Winding-Up Proceedings
Act Referred
Headnote
| Table of Content |
|---|
| 1. application for liquidator appointment under companies act. (Para 1 , 2) |
| 2. arguments from the applicant's solicitor regarding shareholder status. (Para 20 , 21) |
| 3. the applicant lacks standing due to no proven creditor or contributory status. (Para 24 , 30) |
[1] The Applicant by a Notice of Motion dated 30 December 2016 (Encl 27) filed an application under s 227(2) and 289 of the Companies Act 1965 ( CA 1965) to appoint the private liquidator to replace the Official Receiver of Malaysia and cost of this application to be paid from the assets of the Respondent herein.
Relevant Background Of The Case
[2] The Respondent is a private company has been wound up by this Court on 13 November 2015 and pursuant thereto the Official Receiver of Malaysia (OR) has been appointed as the liquidator of the Company.
[3] Following this application, OR has conducted a general meeting (GM) on 13 February 2017 separately for the creditors and contributors in consideration of Encl 27. Subsequently, OR filed it Report on 13 February 2017 (Encl 34) and the gist can be summarised as follows:
3.1 four (4) creditors with the total claims of RM26,387,172.26 are agreeable to the appointment of the private liquidator proposed by the Applicant and the other three (3) creditors with the total claims of RM2,735,885.19 have disagreed with the same.
3.2 no voting was held for the contributors as there was a dispute on the holding of the Respondent. According to Dato' Yusof, the Applicant had transferred his total shares worth of RM25,000,000.00 to Datin Rahmah Syukura Abd Hamid on 24 January 2014 and Dato' Yusof has been adjudged a bankrupt by the Shah Alam High Court on 5 January 2017.
The result of the Report was reproduced herewith in a schedule and read as follows:
[4] At the case management before the Senior Assistant Registrar (SAR) on 27 February 2017, Encik Shahrin Mohamed Saat (Shahrin) had appeared personally and requested for an extension of time to oppose to Encl 27 as the same was only came to his knowledge recently. The SAR granted his application and Shahrin filed its affidavit in opposition vide Encl 40 on 14 March 2017.
[5] However before Encl 27 was set for hearing, the OR vide Encl 36 filed an application under r 94 of the Companies Winding Up Rules 1972 (CWR 1972) to expunge the admission of the Applicant's two (2) Proof of Debts dated 20 May 2016 (1st POD) and 7 June 2016 (2nd POD) respectively. Both of the PODs are at Exh "DYM-7" and "DYM-8" of Encl 28.
[6] The Applicant opposed to the OR's application. Parties had since filed and exchanged their respective affidavits and also written submissions on both Encl 27 and 36 and the same were fixed for hearing on the same day. For the purpose of deciding Encl 27, I have ordered Encl 36 to be decided first before Encl 27.
[7] I had perused parties' respective affidavits and submissions. In addition, parties' solicitors and the OR had also made their oral submissions before this Honourable Court on 25 May 2017. After perusing the cause papers together with affidavits filed and all parties written and hearing oral submissions, I have on the same day granted the OR's application at Encl 36 and thereafter dismissed Encl 27. My reasons are as follows.
Shahrin's Objection
[8] Shahrin canvas his objection on Encl 27 based on the following reasons:
8.1 The Applicant was not the contributory of the Respondent's company;
8.2 The Applicant was also not the creditor of the Respondent's company; and
8.3 The Petitioner and the OR have failed to adhere to the requirements under Companies Act 1965 ( CA 1965) and CWR 1972;
As for the above reasons, Applicant lack of locus standi and the application should be strike out.
[9] From the Companies Commission of Malaysia's (CCM) search dated 31 October 2016 at Exh "DYM-6" of the Applicant's Affidavit sworn on 30 December 2016 (Encl 28), the Respondent has the total issued share capital of 50,000,000.00 ordinary shares with the nominal value of RM1.0