KUALA LUMPUR (Jan 19): Former Port Klang Authority general manager (GM) Datin Paduka OC Phang, who was ordered to pay RM2.6 billion in damages by the Shah Alam High Court to the authority, has been declared a bankrupt.
The petition notice declaring her a bankrupt was made following a Kuala Lumpur High Court order dated April 11, 2019, that allowed PKA directors to recover the amount of damages that had been assessed.
The notice seeking the court to make the announcement was made by Datuk Yap Pian Hon, who was one of the directors.
This comes after the Shah Alam High Court had in 2018 found her liable for 11 of the 15 breaches listed by PKA in a suit filed against her following the Port Klang Free Zone (PKFZ) cost overruns, according to …
Read the full article at: https://www.theedgemarkets.com/article/former-port-klang-authority-gm-oc-phang-declared-bankrupt
