JUDGMENT

(Stay Of Bankruptcy Proceeding)

Kenneth St James JC:

Prelusion

[1] The Judgment Creditor (JC) obtained a judgment against the Judgment Debtor (JD). Premised on the judgment, the JC commenced a bankruptcy action against the JD.

[2] The JD applied for a stay of the Creditor's Petition (CP). The Senior Assistant Registrar (SAR) allowed the stay. The JC appeals to Judge in chambers.

[3] Should the appeal be allowed ie should the stay be granted or refused?

The Pertinent Chronology Of Facts And Proceedings

[4] In January 2019, the JC (as plaintiff) sued the Company: Y.C. Travel & Tours Sdn Bhd (as principal borrower), the JD (as guarantor) and another guarantor, in Kuala Lumpur Sessions Court Suit No WA- B52NCC-11-01/2019 (Suit 11) for approximately RM780K. I will refer to the principal borrower-company as the "Company".

[5] In February 2019, a judgment-in-default (JID) was entered against the Company, the JD and the other guarantor.

[6] In June 2019, the JC presented a winding up petition against the Company. In September 2019, the Company was wound up and put into liquidation.

[7] In October 2019, the JC commenced a bankruptcy action. The JC issued a Bankruptcy Notice (BN) against the J