JUDGMENT

Choong Yeow Choy JC:

[1] Before the court is an application for a Fortuna injunction to restrain the presentation of a winding-up petition based on an alleged debt arising from a settlement agreement that was incorporated into a consent judgment. The central dispute revolves around whether the applicant's 8-day delay in making a milestone payment under the settlement agreement triggered a clause allowing the respondent to claim the full original outstanding sum rather than the discounted settlement amount. The application raises important questions about the legal effect of consent judgments, the interpretation of settlement agreements, and the circumstances under which the court will exercise its jurisdiction to restrain winding-up proceedings.

Background Facts

[2] The Plaintiff, Shapadu Marine Pte Ltd, and the Defendant, Hijayu Marine Services Sdn Bhd, entered into a Ship Management Agreement on 1 February 2021, whereby the Plaintiff appointed the Defendant to provide ship management services for the vessel "MV Berkat Tuah".

[3] On 7 February 2023, the Plaintiff commenced an Admiralty In Rem action against the vessel at the High court of Malaya at Kuala Lumpur. The vessel was