KUALA LUMPUR: The High Court has ruled in favour of 15 investors in their lawsuit against MyAirline co-founder Datuk Allan Goh Hwan Hua and four companies linked to him.
Justice Leong Wai Hong ordered the defendants to return over RM8 million to the investors for failing to honour monthly redemption payments and financing returns.
The court found that the plaintiffs had successfully proven their case on the balance of probability against Goh and the four defendant companies.
Justice Leong specifically ordered the defendants to pay back RM7,610,000 and SGD170,000 to the investors collectively.
The court also awarded costs of RM100,000 to be paid jointly or severally by Goh and the four companies.
The defendants named in the suit were I-Serve Online Mall Sdn Bhd, Bright Moon Venture PLT, QA Smart Partnership PLT and Trillion Cove Holdings Bhd.
The 15 plaintiffs had filed the suit in 2022 claiming the companies failed to make agreed monthly payments from November 2021 to June 2022.
The investors, aged between 58 and 74, claimed Goh breached fiduciary duties and should be personally liable for their losses.
They contended that Goh made representations about issues faced by I-Serve Online Mall and their impact on investment returns.
The plaintiffs also claimed the companies were raided by Bank Negara Malaysia in November 2021 with freezing orders issued against them.
They sought repayment of the RM8 million subscription price plus monthly redemption arrears and 5% annual interest on any awarded sum. – Bernama
