Ler Lum & Co - Chartered Accountants

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Corporate Recovery Services

Scheme of Arrangement Pursuant to Section 176 of the Companies Act 1965 between Korakyat Plantations Sdn Bhd (In Liquidation) and the Purchasers for the Rehabilitation of Taman Perindustrian Subang Mewah.


Court sanction

The scheme of arrangement was agreed by a majority in number representing three-fourths in value of creditors or class of creditors as required under Section 176(3) of the Companies Act 1965 at the Court Convened Meeting held on 20 December 2002 at Dewan SS15/4, Subang Jaya, Selangor Darul Ehsan.

The results of the Court Convened Meeting was reported to the Kuala Lumpur High Court (Commercial Division) on 29 January 2003, and a petition for the sanction of the scheme was filed on 19 February 2003.

The Kuala Lumpur High Court (Commercial Division) approved the scheme on 3 July 2003.





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