JUDGMENT

Azlan Sulaiman J:

Introduction

[1] This Judgment is on two appeals. The first in encl 47 ("Enclosure 47 Appeal") is an appeal by the abovenamed Judgment Debtor ("JD") against the decision of the Senior Assistant Registrar ("SAR") given on 15 November 2024 dismissing his application in encl 28 (Enclosure 28 Application") to set aside/strike out the Creditor's Petition dated 19 June 2024 ("CP") and to strike out the Bankruptcy Notice dated 2 January 2024 ("BN").

[2] The second in encl 55 ("Enclosure 55 Appeal"), is the JC's appeal against the decision of the SAR given on 11 December 2024 allowing the JD's application in encl 26 ("Enclosure 26 Application") to stay the hearing of the CP pending the disposal of the JD's appeal to the Court of Appeal in Civil Appeal No: W- 02(NCvC)(W)-630-04/2023 ("CA Appeal") against the judgment in Kuala Lumpur High Court Civil Suit No: WA-22NCVC-595-11/2017 ("Civil Suit") [Kebabangan Petroleum Operating Company Sdn Bhd v. Mikuni (M) Sdn Bhd & Ors]

Salient Facts

[3] On 27 March 2023, the JC obtained a Judgment jointly and severally against the JD and four others ("Judgment") for sums totalling over RM170m and costs of RM200,000.00 ("Judgment Su