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ZAINUN ALI, RAMLY ALI, ZAHARAH IBRAHIM
FOLIN & BROTHERS SDN BHD & ORS – Appellant
Versus
FOLIN FOOD PROCESSING SDN BHD & ORS – Respondent
| Table of Content |
|---|
| 1. overview of case background and parties involved (Para 1 , 2 , 3 , 4 , 5 , 6) |
| 2. details on valuations and appointment of experts (Para 8 , 9 , 10 , 11 , 12 , 13) |
| 3. importance of independent expert valuation (Para 14 , 15 , 18 , 52 , 106) |
| 4. dispute over shareholder management and consent order (Para 73 , 74 , 75 , 76 , 77 , 78) |
| 5. appellants' claims regarding valuation fairness (Para 84 , 86 , 90) |
| 6. court's interpretation of consent order compliance (Para 97 , 99 , 100 , 102) |
| 7. final court decision on revaluation of assets (Para 118 , 119 , 120) |
Zainun Ali JCA:
(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 Foh Ling.
(4) A dis
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