Ong Chee Kwan JC:

GROUNDS OF DECISION

Introduction

[1]This Decision deals with an application to stay the execution of a judgment after a full trial. Although not usual, after hearing submission by counsel and perusal of the relevant cause papers, I made an order for a partial conditional stay. I felt that the order strikes a fair balance between the right of the Plaintiff to enjoy the fruits of its litigation and at the same time addresses the concern by the 1st. Defendant that its appeal may be rendered nugatory.

[2]The Plaintiff, not being happy with my decision, appealed. Hence, the ground of my decision below.

Background

[3]The Plaintiff is a company incorporated in Singapore with its registered address at 1 Tannery Road # 08-01 One Tannery, Singapore 347719.

[4]The 1st. Defendant is a company incorporated in Malaysia and having its registered office at Unit 1607, Tingkat 16, Menara 2, Faber Towers, Jalan Desa Bahagia, Taman Desa, 58100 Kuala Lumpur, Malaysia.

[5]The 1st. Defendant was wound up on 20.10.2005 and is currently in liquidation.

[6]The 2nd. and 3rd. Defendants are the Liquidators of the 1st. Defendant.

[7]The 1st. Defendant was a joint venture company established between United Engineers (Malaysia) Berhad (“UEM”) and the Plaintiff with UEM holding 51% and the Plaintiff holding 49% of its shares.

[8]On 21.11.2018, the Plaintiff obtained a judgment against the 1st. Defendant from the Kuala Lumpur High Court in this action for the following sums:

(i)Special damages amounting to USD 1,006,880.00;

(ii)Interests at the rate of 5% per annum on the amount of USD 1,185,955.81 from 23.8.2015 until 11.12.2015;

(iii)Interests at the rate of 5% per annum on the special damages of USD 1,006,880.00 from 11.12.2015 until the date of judgment;

(iv)Interests at the rate of 5% per annum on the special damages of USD 1,006,880.00 from the date of judgment until date of full realisation;

(v)Costs of RM 20,000.00 to be paid personally by the Liquidators.

(“the Judgment”)

[9]Following the granting of the Judgment, on 10.12.2018, the Plaintiff issued a notice to demand for the sums under the Judgment amounting to USD 1,175,220.00.

[10]On 17.12.2018, the 1st. Defendant filed an appeal to the Court of Appeal against the Judgment.

[11]On the same day, the 1st. Defendant’s solicitors wrote to the Plaintiff’s solicitors proposing for the sums under the Judgment (“the Judgment Sum”) together with the costs to be deposited to their firm’s clients’ account pending the disposal of the appeal.

[12]The Plaintiff did not agree to the proposal.

[13]The Liquidators thereafter made full payment of the RM 20,000.00 costs as ordered by the High Court Judge.

[14]On 18.2.2019, by a Notice of Application No. WA-28PW-170- 02/2018, the Plaintiff applied to the Winding Up Court for directions and or orders for the Liquidators to comply with the Judgment (“Application 170”).

[15]On 4.3.2019, the 1st. Defendant filed the present application for an order that the execution of the Judgment be stayed pending the full disposal of its appeal to the Court of Appeal (“Enclosure 49”).

[16]After hearing submissions of counsel and perusing the cause papers, I allowed a partial conditional stay of execution of the Judgment Sum. More specifically, I ordered that the 1st. Defendant be granted a stay of execution of up to 50% of the Judgment Sum, namely, 50% of the amount payable under paragraphs (i), (ii), (iii) and (iv) of the Judgment above (“the sums stayed”) on condition that the sums stayed be paid into a joint account opened in the name of Plaintiff’s solicitors and the Defendants’ solicitors within 30 days from the date of the order on 13.5.2019.

[17]This means that the Plaintiff is at liberty to proceed with execution of the Judgment Sum save for the sums stayed unless the 1st. Defendant fails to meet the condition, in which event, the Plaintiff is entitled to proceed with execution of the entire Judgment Sum.

[18]In making my decision, I took into consideration the following facts:

a.The P