Shuttler Lee Zii Jia and his family have amicably resolved their legal dispute involving LZJ Management Sdn Bhd at the High Court.
KUALA LUMPUR: The lawsuit filed by professional men’s singles shuttler Lee Zii Jia against his company, LZJ Management Sdn Bhd, and his family was resolved amicably at the High Court here today.
Zii Jia, 28, filed the originating summons against LZJ Management, his father Lee Chee Hin, 59, his sister Zii Yii, 30, and his younger brother Tao, 25, over the company’s management and finances.
Zii Jia’s counsel Ahmad Zayd Ahmad Zuber informed Judge Leong Wai Hong that the parties had reached a settlement and applied for the court to record a consent judgment on the agreed terms.
Reading from the draft consent, Ahmad Zayd said the parties had agreed that an Extraordinary General Meeting (EGM) of the first respondent (LZJ Management) would be held on Oct 31, in accordance with the Notice of Extraordinary General Meeting dated Oct 16, with the costs to be borne by the first respondent.
“Pending the disposal of the EGM, the second and third respondents (Chee Hin and Zii Yii), whether personally, through agents or through any party acting on their behalf, are restrained from approving, paying, disbursing or causing the payment of director’s fees, allowances, bonuses, remuneration or financial benefits (save for monthly salaries, calculated with effect from Sept 1) to themselves from the first respondent,” he said.
Ahmad Zayd said the second and third respondents are restrained from approving, signing or ratifying any board of directors’ resolution or company resolution, without the court’s leave, save that no order was made as to costs.
Specifically, this covers any resolution relating to the appointment or removal of directors, the appointment of a company secretary, the disposal of material assets, the issuance of new shares, any change in shareholding structure, or any decision affecting the management, administration or control of the first respondent.
After counsel read out the draft consent, Judge Leong asked Zii Jia to come forward to confirm the terms of the settlement.
“Although he is well known, we still need to check his MyKad and verify whether he is the same person,” said the judge, drawing laughter from the media and members of the public present in court.
Judge Leong: Do you agree to the terms of the settlement?
Zii Jia: Yes, I agree.
The judge then called Chee Hin and Tao to confirm the terms of the settlement, and both respondents stated that they agreed to the terms. Their counsel, Andrian Ng Chen Yip, informed the court that his other client, Zii Yii, was abroad and had also agreed to the order.
“Thank you to the parties for resolving this case amicably. This is good for all parties, and everyone can move on with their lives,” said Judge Leong.
In today’s proceedings, counsel Samantha Cheng appeared for LZJ Management.
In the originating summons filed on July 2, Zii Jia, who is the majority shareholder of LZJ Management, said he had taken steps to convene an EGM to discuss the management and governance of the company, but had not succeeded in doing so.
Zii Jia holds a 90 per cent stake in the company, while Zii Yii holds nine per cent and Lee Tao one per cent.
The applicant therefore sought an order that the EGM be held within 14 days of the date of the court order and that the meeting proceed notwithstanding the absence of, or refusal to attend by, any member, director or company secretary.