Clement Skinner J:

[1] This is the hearing of two applications before the court. Before describing them it will be helpful to first state some introductory facts.

[2] On 15 January 2003 an order was granted for the winding up of the respondent company Borneo Pulp Plantation Sdn Bhd at the instance of the petitioner herein on the grounds that it had lost its substratum. The substratum consisted of:

(a) several pieces of land over which it was to establish a tree plantation for the manufacture of pulp, which was resumed by the Government of Sarawak in the year 2002; and

(b) its shareholding, amounting to 20% of the issued share capital of a related company called Borneo Pulp & Paper Sdn Bhd (hereafter 'BPP', which was set up to operate the tree plantation and the pulp mill, but which was ordered to be wound up on 20 September 2002.

[3] On the respondent being wound up, the court appointed Encik Mustapha Bin Mohamad and Mr Jeyaraj a/l Ratnaswamy as joint and several liquidators (hereafter together referred to as 'the liquidators') of the company. When granting the winding up order the court also granted certain other specific powers to the liquidators which included the power: "(c)