JUDGMENT

(Stay Of Winding Up Petition)

Kenneth St James JC:

Prelusion

[1] The Respondent (R) applies for a stay of this winding up proceeding pending the Ministry Of Education's (MOE's) payment of Interim Certificate No. 58 and Interim Certificate No 59 to R.

[2] Should a stay of proceedings be granted?

The Pertinent Facts And Chronology Of Proceedings

[3] The MOE awarded a contract to R to build a school. The Petitioner (P) granted banking facilities to R to carry out the construction contract. R defaulted. P filed a civil suit against R.

[4] On 12 April 2023, P and R recorded a Consent Order for R to pay P approximately RM2.812 million and other amounts (Judgment Debt). The Judgment Debt was to be paid from the contract payments the MOE pays R for the construction contract. But if R does not receive the contract payments from the MOE, the Judgment Debt must still be paid by R. R defaulted under the Consent Order.

[5] In June 2023, P issued and served the s 466 Companies Act 2016 statutory notice on R. R failed to comply.

[6] In July 2023, P presented this winding up Petition against R.

[7] In September 2023, R filed an application to stay this Petition. I fixed R's stay application and th