CEO Morning Brief

June 8 Fixed to Hear Creditors’ Application to Appoint Interim Liquidator and Serba Dinamik’s Application to Cross-examine Winding-up Petition

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Publish date: Thu, 19 May 2022, 08:51 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (May 18): The High Court on Wednesday fixed June 8 to hear the application by creditors and financial institutions to appoint an interim liquidator for beleaguered Serba Dinamik Holdings Bhd and its subsidiaries and also for the company's application to cross-examine the winding-up petitions filed late last month.

The date was fixed by Justice Nadzarin Wok Nordin following a case management with the petitioners in the four cases against Serba Dinamik and its subsidiaries with the company's legal representative via online proceedings.

"Although the whole week is the court vacation week and noting the urgency of this matter following a certificate of urgency had been filed, the court has fixed June 8 to hear the applications physically.

"Please be prepared that the court would hear the case the whole day and possibly until evening after lunch," Justice Nadzarin said.

Serba Dinamik's counsel Mak Lin Kum also informed the court that a scheme of arrangement was also filed on Friday.

However, the creditors and financial institutions who are petitioners in the winding-up led by Datin Jeyanthini Kannaperan, Benjamin Dawson, Datuk John Clark Sumugod, and Karen Tan informed the court that they have to seek instructions from their clients over the proposed scheme of arrangement.

Jeyanthini appeared for the syndicated lenders, while Dawson appeared for the bilateral lenders including HSBC Amanah, Sumugod for Bank Rakyat and MBSB, while Tan for Hong Leong Islamic.

Source: TheEdge - 19 May 2022

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