...

(e) the company is unable to pay its debts;"

[32] Where Parliament had allowed a company to be so wound up, this Court must not put any obstacle to the presentation of a winding up petition by way of a stay of the judgment given unless there is a bona fide serious dispute on the debt, here arising from an Adjudicated Sum or that otherwise there is an abuse of the Court's process. It goes without saying that until the judgment is set aside on appeal or stayed, there cannot be a bona fide dispute on the judgment sum though there is an appeal pending. Otherwise it would be easy not to pay pursuant here to a judgment given by just asserting that there is an appeal filed.

[33] The fact that the Plaintiff continues to dispute the debt and deny owing the judgment sum does not make the debt one that is disputed bona fide. See Kosma Palm Oil Mill Sdn Bhd & Ors v. Koperasi Serbuasaha Makmur Bhd, 2003 MarsdenLR 1713 , Chase Perdana Berhad v. Md Afendi Hamdan (No 2); [2006] 5 MLJ 798; [2006] 5 CLJ 575 and Walter Pathrose Gomez & Ors v. Sentul Raya Sdn Bhd; [2005] 6 MLJ 555; [2005] 7 CLJ 385.

[34] Under the new s 467(2) of the Companies Act 2016 , much of the severe consequences upon a