PNL Capital Sdn Bhd & Ors v Loh Teck Wah & Ors

The Court of Appeal heard four consolidated appeals concerning the appointment of an Interim Judicial Management (IJM) order and Judicial Management Order (JMO) for Fintree Capital Sdn Bhd. The appellants, including PNL Capital Sdn Bhd and Liew Chia Soon, challenged the High Court's decision to grant the IJM and JMO, arguing that the application was made mala fide and was an abuse of process. The Court of Appeal found that the requirements under sections 404 and 405 of the Companies Act 2016 were not met, and the IJM and JMO were set aside. The court also ordered costs of RM5,000 for each appeal to the appellants.