Abdul Malik Ishak J:

Detailed Facts And The Exposition Of The Law

[1] This was a petition in encl 2 by the petitioner - Eastool Industries Sdn Bhd, to wind up the respondent by the name of Getfirms Electronics (M) Sdn Bhd. Winding up is the surest way to extinguish the respondent's company (Princess Reuss v. Bos [1871] LR HL 176 at 193, 197, 202; and Salomon v. Salomon & Co [1897] AC 22 at 30, HL) and it can be filed in any branch of the High Court of Malaya irrespective of the location of the respondent (Goh Boon Kim v. Taman Sungai Dua Development Sdn Bhd [1995] 4 MLJ 553). According to the case of Re Phoenix Oil and Transport Co Ltd (No 2) [1958] Ch 565 at 570 a winding up by the Court simply means that the Court is given the overall power to administer and, consequently, the Court retains a greater degree of control over the destiny of the company. It goes without saying that once a company is being wound up, it triggers into operation a statutory scheme to deal with the assets of the company (per Lord Diplock in Ayerst (Inspector of Taxes) v. C & K (Construction) Ltd [1976] AC 167 at 176-177, [1975] 2 All ER 537 at 540-541). But, before proceeding to examine the law any