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HIGH COURT MALAYA KUALA LUMPUR
WONG SEE YAW & ANOR – Appellant
Versus
BRIGHT PACKAGING INDUSTRY BERHAD – Respondent
| Table of Content |
|---|
| 1. the court affirmed the trial's findings regarding directors' remuneration needing shareholder approval. (Para 1 , 4) |
| 2. arguments were centered on whether payments required shareholder approval. (Para 10 , 11 , 12 , 27) |
| 3. the court discussed the role of the board and shareholders in approving payments. (Para 17 , 24 , 40) |
Introduction
[1] This is the Appellants' (as the first and second Defendants in the Court below) appeal against the judgment of the Kuala Lumpur Sessions Court delivered on 30 June 2015 against them. After hearing the appeal, I gave my decision dismissing the same, and this judgment, which contains the full reasons for my decision, focuses on that aspect of company law which governs payments of directors' remuneration.
Key Backgrounds Facts
[2] The Respondent is a public listed company and is involved in the manufacturing of aluminum foil packaging materials. On 8 June 2005, the first Defendant/Appellant was appointed as Managing Director of the Respondent/Plaintiff and on 3 April 2008, the second Defendant/Appellant was appointed as a director of the Respondent/Plaintiff.
[3] The claim against the first Appellant was for t
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