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FEDERAL COURT PUTRAJAYA
MING HOLDINGS (M) SDN BHD – Appellant
Versus
SYED AZAHARI NOH SHAHABUDIN & ANOR – Respondent
| Table of Content |
|---|
| 1. background of the case and disputed shares (Para 1 , 2 , 3 , 4 , 5 , 6) |
| 2. defendants' claims and counterclaims (Para 7 , 8 , 9 , 10 , 11) |
| 3. high court's findings and reasoning (Para 13 , 14 , 15 , 16 , 17 , 18 , 19 , 20 , 21 , 22) |
| 4. court of appeal's analysis and reversal reasoning (Para 23 , 24 , 25 , 26 , 27 , 28 , 29 , 30) |
| 5. legality of the transaction questions (Para 33 , 34 , 38 , 41 , 52) |
| 6. conclusion on the appeal (Para 53) |
Introduction
[1] The background facts of this case are not disputed. They are as follows: The plaintiff is a private limited company owned by the Chan family. They held shares in a public-listed company known as Palmco Holdings Bhd (Palmco) which is listed in the Kuala Lumpur Stock Exchange. The 1st defendant, his wife and the 2nd defendant (which is a private limited company controlled by the 1st defendant) whom we shall collectively refer to as the 1st defendant and his group, also held shares in Palmco. There is another Malay gentleman by the name of Dato Yusof Latif (Latif). Like the 1st defendant, Latif, his family and the company he controlled (collectively referred to as Latif and his group) also owned share
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