Protasco Bhd said bankruptcy proceedings against judgment debtors Tey Por Yee and Ooi Kock Aun may proceed after the Federal Court unanimously dismissed their application for leave to appeal against an earlier Court of Appeal decision.
The company said the hearing of the creditors’ petitions against the two judgment debtors has been fixed for Dec 18, 2026.
The latest development follows the company’s Aug 19 announcement concerning the bankruptcy proceedings.
Tey and Ooi had previously obtained orders staying the respective bankruptcy proceedings pending the disposal of their application for leave to appeal to the Federal Court.
The proposed appeal concerned a Court of Appeal decision dated March 9, 2026.
However, following the Federal Court’s unanimous dismissal of the leave application, Protasco said the stay orders have lapsed, allowing the bankruptcy proceedings to continue.
The next stage will therefore be the hearing of the creditors’ petitions on Dec 18.
The latest ruling relates to the continuation of the bankruptcy proceedings and should not be construed as a bankruptcy order against either judgment debtor at this stage.
