Wednesday, April 28, 2010

How will the Federal Court decide on the UEM case?

updated, 6.30pm:
The Federal Court had to postpone its decision once again, this time to June 3, as the counsel for Genisys was still in hospital to treat a heart ailment. This morning Genisys had asked for a date in August this year but the presiding judge, Yang Ariff Raus, said if the counsel hasn't recovered by June 3, the Singapore company must find another lawyer to represent it. Read The Mala Mail's story here.

ORIGINAL POSTING;

The RM87 million question. I expect the Fed Court to throw out the Court of Appeal's decision to award RM87 million to Singapore company Genisys in a dispute between that company and UEM, our own government-linked company. Jebat Must Die was spot on in his Sunday posting UEM vs GIE: What's the final verdict? -- the Courts of Appeal's 2008 decision was baffling and did not make any sense:
"... the Court of Appeal had ordered UEM to buy UEG’s shares owned by the Singaporean GIE amounting to RM87 million!

"How could this be when the Court had dismissed both petition which technically renders both sides as innocent of oppressing the other party?

Not only that, if UEM wanted to obtain a stay of execution against the Court of Appeal’s decision, UEM had to deposit RM43.7 million, which they sorely did in May 2009!"

Big Dog, in his April 21 posting Another Corporate War: Malaysian judiciary is put to test said the Fed Court's decision today "... s likely to have a bearing on future treatment of shareholder disputes that go to court, particularly those that rely on the Section 181 provisions".

I wrote a posting earlier this year about this strange case in Will Gopal Sri Ram's RM87 mil judgment stands in Federal Court today? (12 Jan 2010).

10 comments:

Anonymous said...

Did anyone check if the counsel buruk was really ill? Mesti loyal Pakatan ...

Anonymous said...

Ngapalah aku ada saorang PM ang BODOH,,,lagi BODOH,,kerana melantik BANGSAT and PARIAH untuk jawatan SENATOR,,,!!!!!

However,, elok juga coz ini adalah tanda-tanda kejatuhan UMNO and BN.

Apa kata CHE DET,,,!!!!!!!!


-BODOLAGI-

nstman said...

Of course, everything will go according to script. Even a bloody fool will know the outcome. Surely, our judges would not want to fluff their lines. Come on, surely you dont need to be a genius to know that. betul kah? In the meantime, I am into my 12th round of beer drinking championship. By the way, I am an alcoholic. Any objections, ye mother-ducking hypocrites?

Anonymous said...

"Regardless of what has been said by the politicians, I would like to know whether you really want us to enforce the law. If that's not the case, I will tell my men to refrain from stopping cars being driven suspiciously or illegal racers from taking over the roads."-- Inspector-General of Police Tan Sri Musa Hassan.

Who the FUCK does he think he is? We pay salaries of all POLICE, if MUSA wanna UGUT rakyat Malaysia, baik kita pecat aje ANJING ni.

Anonymous said...

Michael Chick goes back to old Arabic maps to find that Tanah Melayu was actually called Barr Chin or Tanah China . So who is the Pendatang?

Anonymous said...

the Peninsular was known as “Barr Kra” in the 10th Century. Before that, the the Arabs call this Peninsular “Tanah China ” instead of “Tanah Melayu”?
Before Tanah Melayu it was Barr Chin (Tanah China) - Digest on The earliest known Arabic Maps www.zimbio.com//Before+Tanah+Melayu+Barr+Chin+Tanah+China - Cached # The

Digest on Malaysian News News, All of the news from Digest on Before Tanah Melayu it was Barr Chin (Tanah China) Date: 2010-02-27T06:43:00.000-08:00

Before Tanah Melayu it was Barr Chin (Tanah China) - Digest on The earliest known Arabic Maps www.zimbio.com//Before+Tanah+Melayu+Barr+Chin+Tanah+China - Cached # The Star

Independent digest and commentary on Malaysian news, political Before Tanah Melayu it was Barr Chin (Tanah China Malaysian government made puppetry of the judicial

orang Arab menamakan Semenanjung ini sebagai ‘Barr Chin’ (Tanah Sekali pun nama Semenanjung Tanah Melayu suatu yang baru supported and seeks to obtain support from China.

Anonymous said...

99 per cent of Petronas directors are Malays.
3 per cent of Petronas employees are Chinese.

Fuk 1 Malay sial

Anonymous said...

99% of YTL/Guoman/Genting/ directors r chinese although they get contracts from the Malay government.

Fuk off you Cina sial

Anonymous said...

amazing rubbish, rocky.

instead of being an ignoramus or leading your ignorant flock through the "us vs them" polemic... try reading the grounds of judgments in the 2 COA decisions leading up to the appeal.

UEM clearly didn't comply with the court's direction when filing the valuation report. after all, it was a buy out... and UEM had to give the court their own valuation... so if they didn't how can you fault the COA for taking into account GIE's valuation.

this decision should stand, for our judiciary to retain its sheen of justice. if UEM didn't want to step up to the plate, can you blame the court for not considering UEM's position.

we get paid shitty amounts for water to singapore... that's because we snoozed on the negotiations. we can't keep blaming other people for our own deficiencies. same here. if UEM didn't give a shit about proceedings... they asked for it.

let the FC decide on the merits and let's not have your's or your "avid" readers' baseless opinion tar the proceedings with allegations of misplaced nationalism.

by
rotund ralphie

eddy said...

Anon 5:04pm, Michael Chick, who? Real name ka, history rewritten by a guy who does not have a real name is it the same guy who wrote this article as a Guest Columnist in MT:
Malaysian Chinese are Stupid http://mt.m2day.org/2008/content/view/1958/46/