KUALA LUMPUR (Sept 15): The High Court (commercial division) had on Thursday (Sept 15) struck out a stay application by Serba Dinamik Holdings Bhd (SDHB) and three of its subsidiaries to temporarily stop the appointment of Victor Saw of PwC Malaysia as an interim liquidator.
The Kuala Lumpur High Court has appointed an interim liquidator to take control of Serba Dinamik Holdings Bhd and three of its subsidiaries after the troubled oil and gas company breached a Consent Order that requires it to start repaying a syndicated loan owed to six banks.
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.
A representation for Serba Dinamik Holdings Bhd, its chief executive officer (CEO) Datuk Mohd Abdul Karim Abdullah and its other top executive officers has been conditionally accepted by the Attorney-General’s Chambers (AGC), the Sessions Courts were told.
The High Court here on Thursday (March 3) ruled that no more creditors are allowed to intervene in four Serba Dinamik Holdings Bhd-related companies' interim judicial management court hearing because the matter regarding the appointment of a judicial manager or interim judicial manager would have to be decided quickly.