00:00 The lawsuit brought by 15 investors against businessman Gore Wanhua and four companies
00:07 over their alleged failure to pay monthly redemption value sums over the investors'
00:12 outlay of about RM8 million is set to be heard in a full trial next year.
00:18 High Court Judge Adeline Abdul Majid on Wednesday dismissed the application by Gore and the
00:22 four companies, Icerf Online Mall Sanjuan Berhad, Bright Moon Venture, PLT, QA Smart
00:29 Partnership, and Trillion Curve Holdings Berhad to strike out the suit.
00:34 She then ordered Gore and the four defendants to pay a cost of RM8,000 to the plaintiffs.
00:40 The judge then fixed dates to hear the suit and January 24 for case management.
00:45 Gore and the four companies filed an application to strike out the suit on the basis that the
00:49 legal action was an abuse of the court process. They also filed their statements of defence
00:55 last year against the lawsuit brought by the 15 investors.
00:59 In their statement of claim dated July 21 last year, the 15 plaintiffs claimed that
01:04 the companies had failed to make the agreed-upon monthly payments from November 2021 to June
01:09 2022. The plaintiffs claimed that Gore, as the co-founder and majority shareholder of
01:15 My Airline Sanjuan Berhad and the other four defendants, had breached fiduciary duties
01:19 and should be made personally liable over losses suffered by the investors.
01:24 They contended that Gore, in issuing various notices and directives that holding conference
01:29 calls with them, had made representations over ongoing issues faced by ISOM and the
01:34 impact it would or would not have on the investors' monthly returns.
01:38 They further claimed that ISOM, TCH and the other firms were raided by Bank Nagara on
01:43 November 11, 2021. Thus, the plaintiffs are seeking repayment of the RM8 million subscription
01:49 price as well as repayment of the owed monthly redemption arrears and 5% annual interest
01:55 on any awarded judgment sum.
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