KUALA LUMPUR: The High Court has allowed Export-Import Bank of Malaysia Bhd's winding-up petition of Kenmark Industrial Co (M) Bhd.
Kenmark said on Thursday, Oct 14, the court ordered it to be wound up under the provision of the Companies Act, 1965.
The court had allowed Messrs Deloitte Corporate Solutions Sdn Bhd to be liquidators of the company.
On June 8, 2010, EXIM Bank had served a notice claiming RM16.31 million owing to the bank pursuant to a line of revolving pre-shipment and post shipment supplier credit facility of RM15 million granted to the company.
Om Aug 18, EXIM Bank had through an ex-parte application through summons in chambers received the court order for the appointment of the provisional liquidators of the company pending the full and final disposal of the winding up petition or until further order.
'With the appointment of the liquidators, the powers of the board of directors and officers of the company to deal with the company's property or to manage its undertaking is suspended. However, the directors' statutory obligations as directors continue,' it said.
Kenmark said on Thursday, Oct 14, the court ordered it to be wound up under the provision of the Companies Act, 1965.
The court had allowed Messrs Deloitte Corporate Solutions Sdn Bhd to be liquidators of the company.
On June 8, 2010, EXIM Bank had served a notice claiming RM16.31 million owing to the bank pursuant to a line of revolving pre-shipment and post shipment supplier credit facility of RM15 million granted to the company.
Om Aug 18, EXIM Bank had through an ex-parte application through summons in chambers received the court order for the appointment of the provisional liquidators of the company pending the full and final disposal of the winding up petition or until further order.
'With the appointment of the liquidators, the powers of the board of directors and officers of the company to deal with the company's property or to manage its undertaking is suspended. However, the directors' statutory obligations as directors continue,' it said.
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