JCW

[Derivative Action – leave to commence derivative action on behalf of the company] Alvin was the counsel for the Defendant, Mutual Life Sdn Bhd. This is a case involving an application filed under Section 181A, 181B, 181C, 181D and 181E of the Companies Act 1965 by the Plaintiffs, the shareholders of the Defendant, seeking leave to commence derivative action for and on behalf of the Defendant against the other directors of the Defendant. The Plaintiffs alleged that the Defendants, either individually or in concert, have unjustly enriched themselves and to the detriment of the Defendant. The Court dismissed the Plaintiffs’ leave application and inter-alia held that the proposed action was for the collateral purpose to achieve the personal gains and were merely using the company for the same