Back
COURT OF APPEAL PUTRAJAYA
ONG KWEE LEE – Appellant
Versus
ABLE PERFECT SDN BHD – Respondent
| Table of Content |
|---|
| 1. beneficiary claim over shares (Para 1 , 4 , 5) |
| 2. payment dispute over dividends (Para 2 , 9 , 10) |
| 3. trust deed requirements and intentions (Para 3 , 6 , 12 , 13 , 16) |
| 4. creation and effect of private express trust (Para 20 , 23 , 25) |
| 5. respondent's dual role as trustee and creditor (Para 30 , 31 , 33) |
| 6. court's directive on trust and payment obligations (Para 40 , 41 , 42 , 43) |
| 7. final judgment and order (Para 45) |
Introduction
[1] The bone of contention in this appeal is whether the appellant was a beneficiary of 250,000 shares of a company known as Sekoplas Industries Sdn Bhd (hereafter "the said shares"), and whether the appellant was in breach of a Trust Deed dated 11 April 2016 (hereafter "the Trust Deed") in regard to the mode of payment towards the acquisition of the said shares which were registered in the name of the respondent, and whether the appellant was entitled to enjoy the benefit of the dividends to the said shares immediately despite not having paid the full amount of his portion of the shared acquisition costs to the respondent.
[2] The respondent contended that it was entitled under the Trust Deed to demand from the appellant the
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
