KUALA LUMPUR (Feb 13): VS Industry Bhd (KL:VS) said water filtration system maker NEP Holdings (M) Bhd has been placed under liquidation after the Court of Appeal dismissed NEP’s appeal against the High Court’s decision to dismiss their application for a stay of a winding up order.
“Following this, NEP’s liquidators have obtained the certificate of appointment as liquidator from the insolvency department and have taken control of NEP’s business and operations,” the electronics manufacturing services provider said in a statement on Thursday.
Last month, the High Court ruled in VS Industry’s favour in its minority shareholder oppression suit against NEP Holdings (M) Bhd and three directors. The decision came with an order…
