aspatra v bank bumiputra

In Aspatra Sdn Bhd v Bank Bumiputra Malaysia Bhd (1988) 1 MLJ 97 the Supreme Court of Malaysia lifted the veil of incorporation to ascertain the actual ownership of assets in granting a Mareva injunction. Unfairness Aspatra Sdn Bhd & Ors v Bank Bumiputra Malaysia Bhd. 3.5.4.4.1. BankBumiputera Malaysia Bhd & … & Ors. Malaysia; High Court (Malaysia) 1 January 1985; Aspatra Sdn Bhd and Others v Bank Bumiputra Malaysia Bhd and Another. Recently, he came up with an idea of making money by taking deposit from investors and V. Bank Bumiputra Malaysia Bhd & Anor ,Lorrain Osman is the director of first respondent and the chairman of the board of directors of the second respondent. Question 1 B. Aspatra Sdn Bhd & 21 Ors V Bank Bumiputra Malaysia Bhd & Anor (1988) In the case of Aspatra Sdn Bhd & 21 ors v Bank Bumiputra Malaysia Bhd & Anor [1988] involved applications for an Anton Piller order and a Mareva injunction to prevent removal from the jurisdiction of assets owned by Lorrain Esme Osman, who was at all times a director … ASPATRA SDN BHD V BANK BUMIPUTRA MALAYSIA BHD [1988] 1 MLJ97 Lorrain merupakan alter ego Aspatra. Harta Aspatra merupakan harta Lorrain. Malaysia; Supreme Court (Malaysia) Invalid date; Mandarin Video Holdings Sdn Bhd; Television Broadcasts Ltd and Others. The court would generally lift the veil of incorporation when there are contain the element of fraud involved by Ben as subscriber of 2 companies. In granting Mareva injunctions against the Defendants, the three trite elements as laid out in the Supreme Court case of Aspatra Sdn Bhd & 21 Others v Bank Bumiputra Malaysia Bhd & Anor [1988] 1 MLJ 97 were being followed. But Lipman changed his mind in the afterthought. G Rethinasamy v Majlis Ugama Islam Pulau Pinang [1993] 2 MLJ 166 To avoid detection Lorrain Osman had channeled the monies which is the secret profit he make into several companies … On 12th August, 1969, an ordinary resolution was passed by the company in general meeting, by the votes of Mr. Nazar and Mr. George Nazar, removing Mr. Ebrahimi from the office of director, a resolution which was effective in law by virtue of section 184 of the Companies Act, 1948, and Article 96 of Part I of Table A. In this case, Ben also received gift from ChinaSport Corp. Bank adviser jailed over forged shares He used them to secure two loans totalling $100,000 UNABLE to settle a debt of $94,000, a business adyiser to a bank pledged 67,000 forged bank shares to get two loans totalling $100,000 from a finance company. v. Bank Bumiputra Malaysia Bhd (1988) 1 MLJ (Supreme Court of Malaysia) Bank Bumiputra Malaysia Bhd (BBMB) and its subsidiary, Bumiputra Malaysia Finance Ltd.. In Aspatra Sdn Bhd & 21 Ors v Bank Bumiputra Malaysia Bhd, the Aspatra and 21 other companies were appealed to the Supreme Court to request to discharge the Mareva injunction and Anton Piller which agreed by the trial judge. 2. Agency Booking Agreement. ASPATRA SDN BHD & 21 ORS v BANK BUMIPUTRA MALAYSIA & ANOR [1988] 1 MLJ 97, the court stated: ‘The generality of the judicial power already vested in the superior Courts by the supreme law of the land is unlimited, and for the purpose of achieving justice, the power of the Courts to do what is just under any law requires no special legislation.’ Some of the company use the Salomon principle to commit fraud. The principles set out in Aspatra Sdn Bhd & 21 Others v Bank Bumiputra Malaysia Bhd & Anor [1988] 1 MLJ 97 were adopted when granting the Mareva Injunction. Fact: The defendants sued against Lorrain Esme Osman, who was at all times a director of the first defendant and chairman of the second defendant, for the secret profits made by Lorrain without their knowledge and approval, arising from transactions. In this situation, the case should refer to Aspatra Sdn Bhd & 21 ors v. Bank Bumiputra Malaysia Bhd & Anor (1988) case. View full document. An example is the case of Aspatra Sdn Bhd v Bank . When writ was filed, BBMB & BMF also got injunction order to restrain Lorrain from transferring his assets out jurisdiction. In case Aspatra Sdn Bhd & Ors v Bumiputra Bank Malaysia Berhad (BBMB)[9], Lorrain Osman, one of the director of Aspatra Sdn Bhd, was once a director of Bumiputra Bank Malaysia Berhad, must account for the secret profit he made in breach the fiduciary duty. In case Aspatra Sdn Bhd & Ors v Bumiputra Bank Malaysia Berhad (BBMB), Lorrain Osman, one of the director of Aspatra Sdn Bhd, was once a director of Bumiputra Bank Malaysia Berhad, must account for the secret profit he made in breach the fiduciary duty. 9 (b) Richard Malanjum JCA’s (as he then was) decision in the Court of Appeal case of Arthur Anderson & Co v Interfood Sdn Bhd [2005] 6 MLJ 239, at paragraph 21; Held. InAspatra Sdn Bhd & A ; 21 Ors v Bank Bumiputra Malaysia Bhd[ 4 ],the Aspatra and 21 other companies were appealed to the Supreme Court to bespeak to dispatch the Mareva injunction and Anton Piller which agreed by the test justice.Lorrain was the manager of two bank, Aspatra Sdn Bhd is one of the company that he controlled. The three elements are as follows: (a) the applicant must show that it has a good arguable case; Aspatra Sdn Bhd & Ors v Bank Bumiputra Malaysia Bhd & Anor [1988] 1 MLJ 97. NewspaperSG - NewspaperSG - The Straits Times, 22 January 1985 BANK BUMIPUTRA MALAYSIA BHD V. FU LEE DEVELOPMENT SDN BHD & ORS HIGH COURT [KUALA LUMPUR] CIVIL SUIT NO D4-23-3162-87 ZAKARIA YATIM, J 10 SEPTEMBER 1990 Zakaria Yatim J This is an appeal by the plaintiff against the decision of the senior assistant registrar given on 24 August 1988, ordering that their application for summary… Joblessness - Research Paper Example In a nation where the economy is constantly developing, the ways of life continue improving, infrastructural advancement is experienced and the degree of wrongdoing is low.In this report, the analyst will endeavor to break down and clarify the reasons and impacts of joblessness and swelling, points of interest and … Aspatra v Bank Bumiputra Malaysia Berhad Lorrain Osman was at all material times a director of the first respondent and chairman of the board of directors of the second respondent. ASPATRA SDN BHD & 21 ORS v BANK BUMIPUTRA MALAYSIA BHD & ANOR SC KUALA LUMPUR SALLEH ABAS LP SEAH & MOHAMED AZMI SCJJ SUPREME COURT CIVIL APPEAL NO 212 OF 1985 8 December 1986, 9 December 1986, 10 December 1986, 25 September 1987 Civil Procedure -- Action against director of bank -- Claim for return of secret profits -- Order for … Agency Welcome to the U.S. e-commerce shops, digital platforms, websites, applications ("apps"), widgets, blogs, or other online offerings owned or operated by subsidiaries of Barnes & Noble Education, Inc., including Barnes & Noble College Booksellers, LLC; MBS Textbook Exchange, LLC; Student Brands, LLC; or any of … When writ was filed, BBMB & BMF also got injunction order to restrain Lorrain from transferring his assets out jurisdiction. (b) Jones is an entrepreneur who runs an investment consultancy firm. At last, lifting the corporate veil can also assist in the prevention of fraud. Similar case in evasion of obligation in Malaysia was Aspatra Sdn. Aspatra Sdn Bhd (appellant) v Bank Bumiputra Malaysia & anor (Respondents) [1988] 1 MLJ 97 Lorrain Osman- director of the 1st resp and chairman of the 2nd resp. In Aspatra Sdn Bhd v Bank Bumiputra Malaysia Bhd [1988] 1 MLJ 97, where the Supreme Court decided that it was proper to lift the corporate veil due to the fact that the majority shareholder held almost all shares in several companies and was regarded to … To enforce a legal obligation Jones v Lipman. You also get free access to Scribd! Scribd adalah situs bacaan dan penerbitan sosial terbesar di dunia. tanaman jagung memiliki bunga jantan dan betina yang letaknya terpisah. Haulage Ltd. Injunction Exercise. 11/30/2017 12 Apabila syarikat bertindak sebagai agen atau alter ego controller - Samb Lorrain was alleged to have made secret profits amounting to $27,625, 853.06. 7.2.1. The Courts recognise that a parent and subsidiary company are separate and distinct entities (Bank Bumiputra Malaysia v Lorrain Esme Osman [1987] 1 MLJ 502. Subsequently, the … Solomon v A. Solomon & Co.

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Aspatra v Bank Bumiputra Malaysia Bhd

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Tags: Question 5 . To avoid detection Lorrain Osman had channeled the monies which is the secret profit he make into … An example is the case of Aspatra Sdn Bhd v Bank . The Plaintiff had to show that it has a good arguable case. Group enterprises are a somewhat tricky affair. Bhd. 3. Limited. He had breached his fiducial … Subsequently, the … Aspatra Sdn. For example, the director would be making own bet on the next roll hoping that the capital injection would save his job. The court • Aspatra Pvt. Sejarah singkat gerakan koperasi bermula pada abad ke-20 yang pada umumnya merupakan hasil dari usaha yang tidak spontan dan tidak dilakukan oleh orang-orang yang sangat kaya. The Plaintiff had to show that it has a good arguable case. v. Bank Bumiputra Sdn. Effective Date and Last Updated: December 17, 2019. Agency In Aspatra Sdn Bhd & Ors v Bank Bumiputra Malaysia Bhd & Anor [1988] 1 MLJ 97 (SC), the then Supreme Court ruled that the court could generally lift the corporate veil in order to do justice particularly where an element of … Cases such as Aspatra Sdn Bhd v Bank Bumiputra Malaysia Bhd. Ungraded . relied on the decision of the Malaysian Supreme Court in Aspatra Sdn. As in the case of Aspatra Sdn Bhd & 21 Ors. Ng Siew Pian v. Sbdul Wahid Bin Abu Hasan Kadi Daerah Bukit mertajam (1993) 11 CLJ 391. 2. Bhd v Bank Bumiputra Malaysia Bhd in 1988 (Chandran, 2008). 2000-kini Supervisor di Retail Service Outlet, Information & Recovery Cawangan Kuala Lumpur Bumiputera, Small Business Department Bumiputra-Commerce Bank Beliau amat berminat didalam industri ini dan telah membuat perniagaan secara kecil-kecilan dirumahnya sendiri sebelum memohon pembiayaan daripada … In this case, the respondents brought an action against defendant who was the director of the defendant for the secret profits made without their knowledge and approval. Dalip Kaur w/o Gurbux Singh v Ketua Polis Daerah (OCPD) Balai Polis Daerah Bukit Mertajam Pulau Pinang Mahkamah Tinggi Pulau Pinang, Saman Pemula N0 24-796-91. The principles set out in Aspatra Sdn Bhd & 21 Others v Bank Bumiputra Malaysia Bhd & Anor [1988] 1 MLJ 97 were adopted when granting the Mareva Injunction. (1988) It was held that the Court could lift the veil to determine whether the assets of the Company were really owned by them or whether there was an abuse of the principal that a Company is a separate legal entity. Then they get to know that Lorrain’s assets are in 32 banks and 104 other companies separately from Aspatra Sdn Bhd is where his shares in custody in. Enemy in Times of War. IGNIPLEX - Blogspot Premium Template by igniel.com - herman viun To enforce a legal obligation Jones v Lipman. Sykt tsbt tlh ditubuhkan dgn niat utk menjadikan sykt sbg agen utk menyimpan asetnya. Apb sykt bertindak sbg ejen bg pemegang2 syer / pegawainya, kes: Aspatra SB v Bank Bumiputra M’sia Berhad; Fakta: BBMB dakwa Lorraine (pemilik Aspatra) krn pernah mengaut untung rahsia semasa menjadi pengarah BBMB. Bhd. The primary purpose for the doctrine of separate legal personality is to encourage entrepreneurship, by shifting the risks of business failure away from entrepreneurs to creditors and other risk bearers. Aspatra v Bank Bumiputra Malaysia Bhd. & 21 Ors.v. SCJ in Aspatra Sdn Bhd & 21 Ors v Bank Bumiputra Malaysia Bhd & Anor [1988] 1 MLJ 97, at 103-104, affirmed the grant of, among others, an APO, given by the High Court. However, where there is a close nexus between the parent and subsidiary, the Courts may be willing to pierce the corporate veil. Civil Procedure - Injunction - Mareva injunction — 2 [2190] Companies and Corporations - Separate legal entity - Lifting the veil of incorporation — 3 [477] Assa Singh v Menteri Besar, Johore [1969] 2 MLJ 30. Instant access to millions of ebooks, audiobooks, magazines, podcasts, and more. depends on the circumstances of the case. Evasion of Legal Obligation. Sejarah koperasi di Indonesia. Was Lipman’s company an attempt to avoid a pre-existing legal obligation? The court would generally lift the veil of incorporation when there are contain the element of fraud involved by Ben as subscriber of 2 companies. SURVEY . (b) Jones is an entrepreneur who runs an investment consultancy firm. Koperasi tumbuh dari kalangan rakyat, ketika penderitaan dalam lapangan ekonomi dan sosial yang ditimbulkan oleh sistem kapitalisme … In the case of Grover & Grover v Mathews (1910), the court held that a fire insurance policy cannot be ratified after the insured event. from satisfying creditors’ claims. Case: Daimler Co Ltd v Continental Tyre & Rubber Co (Great Britain) Ltd (1916) 7.4. • Aspatra Sdn Bhd & 21 Ors v Bank Bumiputra Malaysia Bhd & Anor [1988] • Aspatra Pvt. Bhd. Aspatra Sdn Bhd & 21 Ors v Bank Bumiputra Ma[1] (2) Sales of Good (SOGA) Study Guide 8 S2014. Issues. The Courts recognise that a parent and subsidiary company are separate and distinct entities (Bank Bumiputra Malaysia v Lorrain Esme Osman [1987] 1 MLJ 502. Limited. InAspatra Sdn Bhd & A ; 21 Ors v Bank Bumiputra Malaysia Bhd[ 4 ],the Aspatra and 21 other companies were appealed to the Supreme Court to bespeak to dispatch the Mareva injunction and Anton Piller which agreed by the test justice.Lorrain was the manager of two bank, Aspatra Sdn Bhd is one of the company that he controlled. Aspatra Sdn. In Aspatra Sdn Bhd v Bank Bumiputra Malaysia Bhd (1988) 1 MLJ 97 the Supreme Court of Malaysia lifted the veil of incorporation to ascertain the actual ownership of assets in granting a Mareva injunction. Bumiputra Malaysia Bhd. An example is the case of Aspatra Sdn Bhd v Bank Bumiputra Malaysia Bhdn where the Malaysian Supreme Court by a majority decided that it is proper to lift the corporate veil as the majority shareholder held almost all shares in several companies and was regarded to be the Bhd. 3.5.4.4.1. The respondents brought an action against Lorrain Osman alleging that he had made secret profits in breach of his fiduciary duty as a director of the first and second respondents. BBMB and its subsidiary BMF, sued Lorrain for an account of secret profit that he allegedly made while he was a director of BBMB and chairman of BMF. Bumiputra Malaysia Bhd. In this situation, the case should refer to Aspatra Sdn Bhd & 21 ors v. Bank Bumiputra Malaysia Bhd & Anor (1988) case. Some of the company use the Salomon principle to commit fraud. In situation Aspatra Sdn Bhd & Ors v Bumiputra Financial institution Malaysia Berhad (BBMB)[9], Lorrain Osman, a person of the director of Aspatra Sdn Bhd, was as soon as a director of Bumiputra Lender Malaysia Berhad, will have to account for the magic formula profit he built in breach the fiduciary duty. In case Aspatra Sdn Bhd & Ors v Bumiputra Bank Malaysia Berhad (BBMB), Lorrain Osman, one of the director of Aspatra Sdn Bhd, was once a director of Bumiputra Bank Malaysia Berhad, must account for the secret profit he made in breach the fiduciary duty. As in the case of Aspatra Sdn Bhd & 21 Ors. Case: Gilford Motor Co. Ltd v Horne (1933) 7.3. v. 1994-1995 Pegawai Kredit di PWTC vi. The three elements are as follows: (a) the applicant must show that it has a good arguable case; Aspatra Sdn. BBMB and its subsidiary BMF, sued Lorrain for an account of secret profit that he allegedly made while he was a director of BBMB and chairman of BMF. $1,554.00 of the £3,000.00 was borrowed by the company from a bank and the rest remaining owing to Lipman. v Bank Bumiputra Malaysia Bhd. For the Court to grant a freezing order, the applicant must show that he has a good arguable case, the defendants have assets within the jurisdiction and there is a real risk of dissipation of such assets (see Aspatra Sdn Bhd & 21 Ors v Bank Bumiputra Malaysia Bhd & Anor [1988] 1 MLJ 97). Abstract. In this case, Ben also received gift from ChinaSport Corp. R alleged L had channeled certain secret profits into Aspatra which he controlled to prevent R from recovering those proceeds 16. the incorporators from satisfying creditors' claims. To avoid detection Lorrain Osman had channeled the monies which is the secret profit he make into several companies … v Bank Bumiputra Malaysia [1988]MLJ 97; • Lorrain was the director of Bank Bumiputra (BBMB) and chairman of its subsidiary BMFwas sued by them for making secret profits while in office. In the case of Grover & Grover v Mathews (1910), the court held that a fire insurance policy cannot be ratified after the insured event. Halang drpd L pindahkan aset ke luar negeri. Answer: Portrayal of the exchange circumstance I got an opportunity of haggling for a business chance to offer tents, seats and embellishment administrations to a customer who had a wedding function. - Aspatra S/B lwn Bank Bumiputra Malaysia Bhd Respondent company had applied an injunction against Lorrain who was once a director of the respondent company. v. Bank Bumiputra Malaysia Bhd (1988) 1 MLJ (Supreme Court of Malaysia) Bank Bumiputra Malaysia Bhd (BBMB) and its subsidiary, Bumiputra Malaysia Finance Ltd.. (BMF) claimed Lorrain to obtain secret profits earned during his employment as a director and chairman of BBMP BMF. In ASPATRA SDN BHD & 21 ORS v BANK BUMIPUTRA MALAYSIA BHD & ANOR [1988] 1 MLJ 97 the Supreme Court held that the corporate veil was properly lifted when it was proven that fraud was committed by Lorrain Osman when as director and chairman of the two companies concerned, he had made secret profits and was the alter ego of Aspatra. Case: Aspatra Sdn Bhd & 21 Ors v Bank Bumiputra Malaysia Bhd & Anor (1988) 7.2. Case Aspatra Sdn Bhd v Bank Bumiputra Malaysia Berhad. The Plaintiff had to show that it has a good arguable case. Recently, he came up with an idea of making money by taking deposit from investors and In this situation, the case should refer to Aspatra Sdn Bhd & 21 ors v. Bank Bumiputra Malaysia Bhd & Anor (1988) case. Agency 120 seconds . In Aspatra Sdn Bhd v Bank Bumiputra Malaysia Bhd (1988) 1 MLJ 97 the Supreme Court of Malaysia lifted the veil of incorporation to ascertain the actual ownership of assets in granting a Mareva injunction. This issue is addressed by Aspatra Sdn Bhd &21 Ors v. Bank Bumiputra Malaysia Bhd & Anor . Subsequently, the … Bank Bumiputra Malaysia Bhd Kuala Trengganu v. Mae Perkayuan Sdn Bhd & Anor [1993] 2 CLJ 495 SC (dist) Bank Islam Malaysia Bhd v. Lim Kok Hoe & Anor And Other Appeals [2009] 6 CLJ 22 CA (refd) Bekalan Sains P&C Sdn Bhd v. Bank Bumiputra Malaysia Bhd [2011] 1 LNS 232 CA (refd) Counsel: For the appellant - Peter KC Lee; M/s Lee & Assocs Contoh Syarikat Insurans Kebakaran Di Malaysia - Insuran Kereta Definisi Jenis Hingga Cara Kira Claim Qoala Malaysia / Akta insurans 1963 bentuk asas kepada akta takaful 1984 yang mengandungi segala pindaan hingga 1 oktober 2008. V. Bank Bumiputra Malaysia Bhd & Anor ,Lorrain Osman is the director of first respondent and the chairman of the board of directors of the second respondent. According to the case of Jones v Lipman [1962] 1 WLR 832, Lipman had made a contract with Jones to sell him a house. Then, Contemplating the subsidiary organization was not the operator of that specific land Ampol Petroleum Pty Ltd v Findlay Sham/Facade Re FG(Movies) Ltd. So also in ICI Ltd v Shatwell [1965] AC 656 at p 675 where Lord Radcliffe said: He had breached his fiducial … 13. where the Mala ysian Supreme Court by a majority decided . Case Aspatra Sdn Bhd v Bank Bumiputra Malaysia Berhad. v Bank Bumiputra Malaysia Bhd. In R v Committee of Lloyd's, ex p Moran (1983) Times, 24 June, Mustill J (as he then was) said that: Statute or contract cannot be interpreted according to its literal meaning without testing that meaning against the practical outcome of giving effect to it. The court could lift the corporate veil in the circumstances as there was an element of fraud involved in the receipt of the secret profit. 2. & Anor,,5 where Lorraine Osman was sued for payment of M$27 million allegedly received by him as secret profit while acting as a director of the bank. (1988) It was held that the Court could lift the veil to determine whether the assets of the Company were really owned by them or whether there was an abuse of the principal that a Company is a separate legal entity. That is shown by Rex v I.C.R. 7.3.1. Read and listen offline with any device. The English High Court held that the company was a sham or facade which Lipman intended to use to evade a pre-existing obligation. ASPATRA SDN BHD & 21 ORS v BANK BUMIPUTRA MALAYSIA & ANOR [1988] 1 MLJ 97, the court stated: ‘The generality of the judicial power already vested in the superior Courts by the supreme law of the land is unlimited, and for the purpose of achieving justice, the power of the Courts to do what is just under any law requires no special legislation.’ In granting Mareva injunctions against the Defendants, the three trite elements as laid out in the Supreme Court case of Aspatra Sdn Bhd & 21 Others v Bank Bumiputra Malaysia Bhd & Anor [1988] 1 MLJ 97 were being followed. lifting the veil of incorporation judical expection i:use of company to evade legal obligation cases-Jones v. Lipman ii: Other instances- such as to do justice when there is fraud cases-Aspatra Sdn Bhd. In this case, Ben also received gift from ChinaSport Corp. In case Aspatra Sdn Bhd & Ors v Bumiputra Bank Malaysia Berhad (BBMB), Lorrain Osman, one of the director of Aspatra Sdn Bhd, was once a director of Bumiputra Bank Malaysia Berhad, must account for the secret profit he made in breach the fiduciary duty.To avoid detection Lorrain Osman had … In case Aspatra Sdn Bhd & Ors v Bumiputra Bank Malaysia Berhad (BBMB)[9], Lorrain Osman, one of the director of Aspatra Sdn Bhd, was once a director of Bumiputra Bank Malaysia Berhad, must account for the secret profit he made in breach the fiduciary duty. Report an issue . The principles set out in Aspatra Sdn Bhd & 21 Others v Bank Bumiputra Malaysia Bhd & Anor [1988] 1 MLJ 97 were adopted when granting the Mareva Injunction. In this case, Bumiputra Malaysia Finance Ltd (BMF) sued Lorrain for the full amount figure of $27.6 million which they have describe that Lorrain have made secret profit it with no awareness and agreement form them. The court would generally lift the veil of incorporation when there are contain the element of fraud involved by Ben as subscriber of 2 companies. In instanceAspatra Sdn Bhd & A ; Ors v Bumiputra Bank Malaysia Berhad ( BBMB )[ 9 ] , Lorrain Osman, one of the manager of Aspatra Sdn Bhd, was one time a manager of Bumiputra Bank Malaysia Berhad, must account for the secret net income he made in breach the fiducial responsibility. Lorrain was the director of two bank, Aspatra Sdn Bhd is one of the company that he controlled. depends on the circumstances of the case. Azmi SCJ in Aspatra Sdn Bhd & 21 Ors v Bank Bumiputra Malaysia Bhd & Anor [1988] 1 MLJ 97, at 103-104; and . In Aspatra Sdn Bhd & 21 Ors v Bank Bumiputra Malaysia Bhd & Anor23, the court lifts the corporate veil in order to do justice particularly when an element of fraud was involved. An example is the case of Aspatra Sdn Bhd v Bank Bumiputra Malaysia Bhd 13 where the Malaysian Supreme Court by a majority decided that it is proper to lift the corporate veil as the majority shareholder held almost all shares in several companies and was regarded to be the alter ego of the companies. Bank Bumiputra Malaysia Bhd and Another v Lorrain Osman and Others. Holding and Subsidiary Companies 13. where the Mala ysian Supreme Court by a majority decided . However, where there is a close nexus between the parent and subsidiary, the Courts may be willing to pierce the corporate veil.

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