Court of Appeal upholds asset freeze order in Singapore penny stock collapse
On 13 October 2014, the Court of Appeal upheld a Mareva injunction to freeze the assets of six individuals and two companies regarding the trading of shares in three listed companies in Singapore. The panel, led by Justice Mah Weng Kwai, dismissed the appeal by the eight against the Kuala Lumpur High Court decision in support of a foreign arbitration under Section 11 of the Arbitration Act 2005. This is the first case where Section 11 of Arbitration Act 2005 has been used to assist in an international arbitration where the seat is outside of Malaysia. Counsel from SKRINE who represented the successful applicant were Dispute Resolution Partners, Lim Chee Wee and Lee Shih together with Associate, Ong Doen Xian.
>> READ MORE
Huda @ Najwa Binti Ikhwan v Bursa Malaysia Securities Berhad
On 20 August 2014, the Court of Appeal comprising Justices Hishamudin Yunus, Zawawi Salleh and Umi Kalthum Majid dismissed the appeal and upheld the High Court’s dismissal of the Appellant’s application for judicial review against Bursa Malaysia’s Appeals Committee.
Before Bursa Malaysia’s Market Participants Committee, the Appellant was found to have been involved in churning/rollover activities and substantial cross trades which had the effect of creating false/misleading appearance of active trading in/market for certain securities. A public reprimand, a fine of RM100,000.00 and an order for striking off the register as a Registered Person were made against the Appellant. This was upheld by the Appeals Committee. Before the High Court, the Appellant failed in her application for judicial review and the Court of Appeal upheld this decision.
Counsel from Skrine who represented Bursa Malaysia in the High Court and the Court of Appeal was Lee Shih, assisted by Nimalan Devaraja.
Tengku Dato' Kamal Ibni Sultan Sir Abu Bakar & 3 Ors v Bursa Malaysia Securities Berhad
On 16 August 2012, the Court of Appeal comprising Justices Ramly Ali, Zaharah Ibrahim and Aziah Ali upheld the decision of the High Court in relation to Bursa's resort to section 360 of the Capital Markets and Services Act 2007 ("CMSA") to enforce penalties imposed by its regulatory committees on defaulting market participants. The Appellants in the matter were former directors of Cepatwawasan Group Berhad and had been found by Bursa's regulatory committees to have breached Bursa's Listing Requirements. Counsel from Skrine who represented Bursa was Lim Chee Wee, assisted by Lee Shih and Ong Doen Xian.
>> READ MORE
Lee Yoke Yam v Chin Keat Seng
On 28 November 2012, the Federal Court unanimously ruled in a landmark decision that statements contained in a first information report under Section 107 of the Criminal Procedure Code are protected by absolute privilege. The Federal Court arrived at this decision based on public policy considerations. Accordingly, the defendant was not liable for alleged defamatory statements contained in a first information report.
Counsel from Skrine who represented the defendant were Oommen Koshy and Kwan Will Sen.
>> READ MORE