High Court winds up construction firm over RM8.27mil judgment debt
Judge rules that a pending appeal cannot be a shield against winding-up unless the company had obtained a stay of execution.
The Kuala Lumpur High Court has ordered the winding-up of construction company One-Builtwell Associates (M) Sdn Bhd due to a RM8.27 million judgment debt owed to Seremban Specialist Hospital Sdn Bhd. Judicial Commissioner Ku Hayati Ku Haron ruled that the company could not rely on a pending appeal to halt the winding-up proceedings without first obtaining a stay of execution.
The debt stems from a November 2022 High Court judgment requiring One-Builtwell to pay RM8,267,780, including 5% annual interest and RM30,000 in costs. After a statutory demand was served, the hospital filed a winding-up petition against the company, which subsequently failed to pay the sum. Ku Hayati found One-Builtwell unable to produce credible evidence of its ability to settle the debt, dismissing financial statements from 2020 as insufficient proof of its current financial standing.
The judge also rejected arguments regarding the defectiveness of the statutory demand, ordering the company to be wound up, appointing a private liquidator, and awarding RM7,000 in costs.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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