KUALA LUMPUR: Boustead Holdings Berhad has filed a suit against its former chairman Mohd Ghazali Che Mat, its ex-managing director Che Lodin Wok Kamaruddin and four others for alleged breach of fiduciary duty under the Companies Act.
The company, as the sole plaintiff, filed the suit on June 29 this year through Messrs Christopher & Lee Ong.
Besides Mohd Ghazali and Che Lodin, the company also named former directors Azzat Kamaluddin, Tan Leh Kiah, Ghazali Mohd Ali and Dr Megat Abdul Rahman Megat Ahmad as defendants.
In its writ of summons, the company is seeking declarations that the defendants are jointly and severally negligent, having breached their fiduciary obligations as directors and/or officers of the company under the Companies Act 1965 and/or the Companies Act 2016.
Boustead Holdings is also seeking a declaration that the defendants jointly and severally should pay the sum of £6.4 million (RM35 million) to the plaintiff or other sum deemed fit by the court to be paid in Malaysian ringgit at the rate of exchange as of the date of payment.
The plaintiff is further seeking equitable compensation, general damages, exemplary damages, aggravated and punitive damages, costs and other relief deemed necessary by the court.
The case was fixed for case management today before Civil High Court Judge Rohani Ismail, who decided to transfer it to the Commercial High Court. - FMT
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