I had earlier blogged about the dire conflict facing Liquidators arising from the Court of Appeal decision of Dato’ See Teow Chuan. The reported Court of Appeal decision can be read at [2010] 6 MLJ 459 and I had pointed out the grave implications arising from the Court of Appeal decision relating to Liquidators, Receivers (and Managers) and auditors.This Court of Appeal decision had proceeded to the Federal Court and based on this Bursa announcement, the Federal Court had allowed the Liquidators’ appeal.

It will be very interesting to read the Federal Court’s written grounds of judgment. I expect that the reasoning set out in the High Court decision (See Teow Guan & Ors v Kian Joo Holdings Sdn Bhd & Ors [2010] 1 MLJ 547) would be reinstated.