JUDGMENT

Choong Yeow Choy JC:

Introduction

[1] The Plaintiff is seeking to protect its interests as a creditor of the Defendant company.

[2] The Defendant, which has been placed in creditors' voluntary liquidation and acting through its liquidator, is seeking to protect the interests of all creditors.

[3] The Plaintiff, through its Originating Summons, is seeking to validate 5 sale and purchase agreements it had entered into with the Defendant as a result of a contra arrangement for a purported debt of over RM11,000,000.00 due and owing to the Plaintiff.

[4] The Defendant opposes the Originating Summons on the sole ground that the sale and purchase agreements were executed within the 6-month "twilight period" of the company being wound up - as provided in s 528 of the Companies Act 2016 - thus rendering the sale and purchase agreements to be deemed as fraudulent and void and as running afoul of the rule against undue preference.

The Vital Issue

[5] The single poser for determination in this Originating Summons concerns the effective date for calculating of the "twilight period" as provided in s 528(1) of the Companies Act 2016, that is, whether the effective or material date of the contra