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COURT OF APPEAL PUTRAJAYA
FOLIN & BROTHERS SDN BHD & ORS – Appellant
Versus
FOLIN FOOD PROCESSING SDN BHD & ORS – Respondent
| Table of Content |
|---|
| 1. facts surrounding the appeal and consent order. (Para 1 , 2 , 3 , 4 , 5) |
| 2. overview of parties and initial facts (Para 6) |
| 3. structure and shareholding of folin food. (Para 15 , 70 , 71 , 72 , 73) |
| 4. expert valuation and fairness in process. (Para 18 , 30 , 35 , 41 , 45) |
| 5. dispute over fair valuation methods (Para 20 , 21 , 22 , 24 , 25 , 31) |
| 6. assessment of valuation by ernst & young. (Para 60 , 61 , 62) |
| 7. determination of expert reliance and independence (Para 64 , 100) |
| 8. court’s ruling on ineffective valuation. (Para 97 , 98 , 112) |
| 9. conclusion on revaluation requirements (Para 119 , 120) |
[1] I have read the judgment of my learned brother Ramly Ali JCA. Since His Lordship had set out the facts of this appeal comprehensively, I am spared from having to do so, save to briefly state the salient points below.
[2] The joint liquidators are the liquidators of the 1st appellant (Folin Brothers).
[3] Folin Brothers is the majority shareholder holding 1,000,002 shares in the 1st respondent (Folin Food). The Minority Shareholders all hold one share each in Folin Food. Thus the balance two shares in Folin Food are held by Wong Boon Sun who is a bankrupt and the estate of Wong
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