JUDGMENT

Mohd Nazlan Mohd Ghazali JCA:

Introduction

[1] This appeal is against the dismissal by the High Court of the appellant creditor's application to be excluded from a proposed scheme of arrangement between the three respondent debtor companies (and 20 other related companies in the group) and their creditors.

[2] The appellant advanced two principal grounds. The first is that the scheme process pursued by the respondents constituted a multiplicity of proceedings and was an abuse of process given the existence of an earlier proposed scheme application by the respondents, which also involved applications for restraining orders. Secondly, the appellant's debts fell outside the specified cut-off date for the filing of a proof of debt, on account of a Settlement Agreement, which post-dated the cut-off date.

[3] Having examined the appeal record and considered the submissions of parties, we unanimously decided that the appeal was without merit and therefore dismissed the same, for the reasons appearing hereinafter.

Key Background Facts

A) The Settlement Agreement Dated 23 February 2022

[4] The appellant, Martin Bencher (Malaysia) Sdn Bhd, whose principal business is the provision of ship