SERDANG, April 13 — Tan Sri Lee Kim Yew, founder and adviser of Country Heights Holdings Berhad (CHHB), insisted today he is still “solidly solvent” despite an existing...
SERDANG, April 13 — Tan Sri Lee Kim Yew, founder and adviser of Country Heights Holdings Berhad , insisted today he is still “solidly solvent” despite an existing Adjudication Order and Receiving Order declaring him bankrupt by the High Court in January.
Following the winding-up of the company, Lee said Healy then sought an arbitration order against him without his presence due to existing Covid-19 travel restrictions at that time.“He then brought the US arbitration court's RM3 million judgment to Malaysia, by making use of Malaysian bankruptcy law to make me a bankrupt,” Lee told a press conference here.
“He worked for me, and we were friends. We could have negotiated amicably but he chose to do this unprofessionally. He could have chosen a better way,” Lee said.Negotiations between their lawyers took place to set aside the order after Healy realised it was a mistake. Asked what he intends to do next, Lee said he is awaiting a notice from the Department of Insolvency and has since written to the government to allow his counsel to continue negotiations for an order to set aside the bankruptcy declaration.
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