FORE-SIGHT MARKETING SDN. BHD. And QUINTRAZ SDN. BHD.
1 There was an allegation that a loan agreement for the sum of RM1,080,000.00 was entered into between one of the director (my father) of Fore-sight Marketing Sdn. Bhd and Quintraz Sdn. Bhd.
1.1 However, on the part of Fore-sight Marketing there was no record of such transaction in their respective company.
1.2 I had no idea of the loan agreement.
1.3 Fore-sight Marketing did not receive the loan.
2 Quintraz Sdn. Bhd. then made a claim for the sum of RM1,080,000.00 premised on the loan agreement thereafter presented a winding up petition.
3 Hard as we fought we lost the battle in the High Court. It was totally out of our expectation.
3.1 The hardest to accept was that Quintraz who was a dormant company.
Our Company Was Wound Up
4 The learned High Court Judge granted a winding up order as:
4.1 There was a loan agreement allegedly executed by one of the directors of Fore-sight Marketing Sdn. Bhd.
4.2 The said director did not affirm any affidavit or attend to the hearing to deny that the loan agreement was entered into between parties.
4.3 It was otiose for the other director to deny the existence of the loan agreement and state that the director who allegedly executed the loan agreement vanished into the thin air as both the directors are in a father and son relationship.
5 It was a devastating decision, what it meant was that my company was wound up and it is one of the main sources of income for the family.
5.1 The High Court Grounds of Judgment was so well written detailing why our company should be wound up…
5.2 It was painful to read…
Appel to the Court of Appeal
6 Fore-sight Marketing appealed against the said decision.
Messrs Alex Chang & Co Recommended By Firms Outside Kuala Lumpur
7 We came to see Mr Chang upon the recommendation of a firm of Johor lawyer and also a firm Malacca lawyer.
Declined to Act
8 At the first meeting, Mr Chang declined our invitation to act for us in the appeal on the simple reason:
8.1 Mr Chang asked: “Did you as the son, dispute the signature was that of your father’s in the loan agreement?”
8.2 Answer: “No.”
8.3 Mr Chang: “Since you did not dispute the signature, I am not able to handle this appeal… So sorry.”
9 After some persuasion from my family, Mr Chang then agreed to look into the matter and accepted the brief the next day.
10 We were seated in the cold the Court of Appeal listening to the arguments from various learned counsel. Ours was the last one…
11 In the Court of Appeal, an approach different from the one in the High Court was taken. Many grounds were advanced in the short 25 minutes of presentation by Mr Chang.
12 Finally, the Court of Appeal allowed our appeal, reversed the decision of the High Court and dismissed the winding up petition set aside the winding up Order with the following grounds inter alia that:
12.1 The is no evidence that Quintraz who was a dormant company was capable of granting us a RM1 million loan.
12.2 The audited accounts did not reflect the loan sum from the alleged lender;
12.3 No resolution could be found to authorise the action of Fore-sight Marketing accepting the loan;
12.4 Furthermore, no evidence to show that the sum of RM1,080,000.00 was disbursed and received by Fore-sight Marketing.
5 Months’ Sleepless Night
13 That ended 5 months of sleepless nights. Waiting is one of the most painful experiences. Waiting for the appeal to be heard not knowing the outcome is suffocating, no amount of comforting words from Mr Chang could quell the agitation and unrest we felt.
Wound Up the Company Who Tried to Wind us Up
14 This story has an unexpected ending. We proceeded to Wind up QUINTRAZ to close this chapter once and for all.
Thank You Messrs Alex Chang & Co
15 We sincerely record our appreciation to the dedication and professionalism shown by Messrs Alex Chang & Co in the handling of the above matter.
15.1 They took the extra mile to ensure and reverse the winding up order against all odds.