Back
HIGH COURT MALAYA KUALA LUMPUR
NG SWEE PEN & ORS – Appellant
Versus
WALLA ENTERPRISE SDN BHD – Respondent
| Table of Content |
|---|
| 1. defendant's application for mareva injunction denied. (Para 1 , 2 , 3 , 4 , 5) |
| 2. background facts surrounding the share sale agreement. (Para 6 , 7 , 8 , 9 , 10 , 11 , 12 , 13) |
| 3. delay in filing the mareva injunction application. (Para 14 , 15 , 19) |
| 4. requirements for establishing a mareva injunction. (Para 21 , 22 , 24 , 30) |
| 5. need for credible evidence of asset dissipation. (Para 32 , 39) |
| 6. final ruling on the mareva injunction application. (Para 46) |
(Enclosure 54)
Introduction
[1] The defendant applies for a Mareva injunction against the 1st to 5th plaintiffs. The defendant sought to restrain the plaintiffs from disposing of assets up to the value of RM1,880,953.20 ("Impugned Sum") pending disposal of the present action. This amount represented the sum claimed in the defendant's counterclaim.
[2] Additionally, the defendant sought for an order to compel the 1st to 5th plaintiffs to deposit the Impugned Sum into a joint account. The joint account is to be operated jointly by the solicitors of both parties.
[3] The underlying dispute stemmed from a share sale agreement dated 1 December 2021 ("SSA") between the parties. The SSA pertains to
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
