Suit by 15 investors against MYAirline founder, four companies proceeds to full trial

The Star

The lawsuit brought by fifteen investors against businessman Goh Hwan Hua and four companies over their alleged failure to pay monthly redemption value sums over the investors' outlay of about RM8mil is set to be heard in a full trial next year.  High Court Judge Adlin Abdul Majid on Wednesday (Dec 13)  dismissed the application by Goh and the four companies to strike out the suit and said there were issues that needed to be thrashed out during a trial.  Read more at http://tinyurl.com/5enmm4m6  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00 The lawsuit brought by 15 investors against businessman Gore Wanhua and four companies

00:07 over their alleged failure to pay monthly redemption value sums over the investors'

00:12 outlay of about RM8 million is set to be heard in a full trial next year.

00:18 High Court Judge Adeline Abdul Majid on Wednesday dismissed the application by Gore and the

00:22 four companies, Icerf Online Mall Sanjuan Berhad, Bright Moon Venture, PLT, QA Smart

00:29 Partnership, and Trillion Curve Holdings Berhad to strike out the suit.

00:34 She then ordered Gore and the four defendants to pay a cost of RM8,000 to the plaintiffs.

00:40 The judge then fixed dates to hear the suit and January 24 for case management.

00:45 Gore and the four companies filed an application to strike out the suit on the basis that the

00:49 legal action was an abuse of the court process. They also filed their statements of defence

00:55 last year against the lawsuit brought by the 15 investors.

00:59 In their statement of claim dated July 21 last year, the 15 plaintiffs claimed that

01:04 the companies had failed to make the agreed-upon monthly payments from November 2021 to June

01:09 2022. The plaintiffs claimed that Gore, as the co-founder and majority shareholder of

01:15 My Airline Sanjuan Berhad and the other four defendants, had breached fiduciary duties

01:19 and should be made personally liable over losses suffered by the investors.

01:24 They contended that Gore, in issuing various notices and directives that holding conference

01:29 calls with them, had made representations over ongoing issues faced by ISOM and the

01:34 impact it would or would not have on the investors' monthly returns.

01:38 They further claimed that ISOM, TCH and the other firms were raided by Bank Nagara on

01:43 November 11, 2021. Thus, the plaintiffs are seeking repayment of the RM8 million subscription

01:49 price as well as repayment of the owed monthly redemption arrears and 5% annual interest

01:55 on any awarded judgment sum.

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