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HIGH COURT MALAYA PENANG
TC SUCCESS JEWELLERY SDN BHD – Appellant
Versus
PRIMEPOINT ENGINEERING SDN BHD – Respondent
| Table of Content |
|---|
| 1. court's power to terminate or stay winding up (Para 1 , 3 , 4 , 5 , 6 , 7) |
| 2. grounds for application to terminate or stay winding up (Para 8 , 9) |
| 3. court's concerns about future proceedings (Para 10 , 11) |
| 4. eligibility and limitations for applications under companies act (Para 12 , 13) |
| 5. final decision on application for winding up (Para 14) |
Prelusion
[1] The Respondent company (RCo) applies to terminate the winding up Order dated 3 April 2017 (Winding Up Order) and to resume "the management and control" of the company. RCo alternatively applies for a perpetual stay of the Winding Up Order.
[2] Should the Winding Up Order be terminated, or perpetually stayed?
Sections 493 And 492 Of The Companies Act
[3] RCo makes this Application as a post-winding up application under ss 493 and 492 of the Companies Act 2016 .
[4] Section 493 provides that when a liquidator or creditor or contributory of a wound up company makes an application to terminate the winding up of the company, the winding up Court may grant the Order to terminate the winding up, if the Court thinks that it is fit to grant the Order.
[5] Section 493 is set out here for reference:
Section 49
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