1998 MarsdenLR 1800
KL REKHRAJ
HIGH COURT (KUALA LUMPUR)
RE FOURSEA CONSTRUCTION (M) SDN BHD - Appellant
Versus
. - Respondents
EX PARTE ORIGINATING SUMMONS NO D6-24-259 OF 1998
Decided On : 06/22/1998
Conrad Young ( Azman Davidson & Co) for the applicant.
Prakash Mehta ( Prakash Baljit & Co) for the intervener.
Conrad Young ( Azman Davidson & Co) for the applicant.
Prakash Mehta ( Prakash Baljit & Co) for the intervener.
The applicant filed this ex parte originating summons under s 176(1) and (10) of the Companies Act 1965 for an order that:
(i) the applicant be directed to convene separate meetings to be held in
respect of its two classes of creditors described as the secured creditors
and unsecured creditors for the purpose of considering and if thought fit
approving with or without modification the scheme of arrangement proposed to
be made between the applicant and its creditors;
(ii) the said meetings are to be held on or before 4 September 1998
between the hours of 9am and 5pm;
(iii) the applicant be at liberty to fix an earlier date and the venue of
the meetings;
(iv) Mr Lim Ming Woei, a director of the applicant, or failing him Mr Yaw
Kong Meng, a director of the applicant be appointed as chairman of the said
meetings and the said chairman be directed to report the results thereof to
this honourable court;
(v) the said meetings be summoned by the giving of not less than 21 days
notice and that such notice be given by way of:
(a) sending by ordinary mail the notice in the form annexed herewith
as Annexure 1 with the blanks appropriately filled therein to the last
known address of each of the creditors and/or their solicitors address
for service; and
(b) advertising the notice in the form annexed herewith as Annexure
2 once in English in The Star newspaper and once in Bahasa Malaysia
in the Berita Harian newspaper;
(vi) notice of the said meetings be deemed to have been duly effected only
upon two clear days of the posting of the said notices to the creditors last
known address and/or their solicitors address for service and after the
publication of the advertisements;
(vii) the applicant by itself or through its agents do send a copy of the
said scheme and the corresponding statement required to be furnished pursuant
to s 177(1)(a) of the Companies Act 1965 together with the form of proxy and
form of proof of debt (the applicants documents) to all the applicants
creditors together with the notice annexed as Annexure 1 and also to any
creditor who files a proof of debt in compliance with the requirements of the
advertisements;
(viii) in addition to the above, the applicant and its agents are to make
available to all the applicants creditors copies of the applicants
documents which can be obtained from the applicants office at No 19B, Lorong
Rahim Kajai 13, Taman Tun Dr Ismail, 60000 Kuala Lumpur, on any working day
except Saturday between the hours of 9.00 am and 5.00 pm;
(ix) pursuant to s 176(10) of the Companies Act 1965:
(a) the petitioners -- the plaintiffs -- their servants or agents to
the actions or proceedings against the applicant more specifically set
out in exh YKM-6 (being the list of creditors) to the affidavit of Yaw
Kong Meng affirmed on 15 June 1998; and/or
(b) any of the applicants creditors, their servants or agents;
(ix) be restrained except by leave of this court and subject to such terms
as this court may impose, from all further action or further proceedings as
well as any intended or future proceedings including winding-up, execution or
arbitration proceedings (the said restraining order) pending the approval
of the scheme by the court or until further order;
(x) service of the said restraining order be effected:
(a) on all persons affected by the restraining order; and
(b) if such person is a company, on the company as well as on its
directors;
(x) by way of advertising a copy of this order without the annexures
thereto, once in English The Star newspaper and once in Bahasa Malaysia
in the Berita Harian newspaper and also by way of sending by ordinary
mail to the last known address of such affected person and/or company a
photocopy of the restraining order without the annexures thereto;
(xi) service of the said restraining order be dee