[1] This is an appeal against the decision of the High Court in which the learned judge allowed the plaintiffs/respondents' claims that certain payments channelled to the 8th defendant/appellant were fraudulent preference payments and void.

[2] We heard this appeal together with another appeal which is W-02-(NCC)(W)-1229-07-2014 ("Appeal 1229"). Both appeals emanated from the same judgment given in Suit No: 22(NCC)-68-68-01-2013.

[3] The appellant in this appeal is the 8th defendant in the aforesaid suit while the appellant in Appeal 1229 is the 1st defendant, one Dato' Prem Krishna Sahgal.

[4] After hearing the parties on 6 May 2015, we reserved judgment and we now give our decision and grounds of the same.

[5] Despite having heard the two appeals together, we see fit that separate judgments be given for each appeal as it concerns different areas of law.

Background Facts

[6] The factual matrix has been succinctly set out by my learned brother, Justice Abang Iskandar Abang Hashim JCA in his judgment for Appeal