Lee Zii Jia Reaches Amicable Resolution With Family Over Company Dispute

According to FMT, Kuala Lumpur High Court judge Justice Leong Wai Hong recorded a consent judgment between the parties after a successful mediation in chambers today, 20 October.

Zii Jia was the applicant in the case, while his father, Lee Chee Hin, 59, and younger brother, Lee Tao, 25, were named as the second and fourth respondents, respectively.

His elder sister, Lee Zii Yii, 30, was the third respondent, while LZJ Management was the first respondent.

Under the consent judgment, the parties agreed to hold an extraordinary general meeting (EGM) on 31 October.

Before the meeting convenes, the court ordered an injunction restraining Chee Hin and Zii Yii from approving, paying, or authorising any directors' fees, allowances, bonuses, rewards or other financial benefits to themselves from the company.

They are also prohibited from approving resolutions without prior court approval on matters including the appointment or removal of directors or a company secretary, the disposal of major assets, the issuance of new shares, changes to the shareholding structure, and other decisions that could significantly affect the company's management, administration, or control.

Zii Jia currently holds a 90% stake in the company, while Zii Yii owns 9% and Tao holds the remaining 1%.

As part of the lawsuit, Zii Jia sought an EGM to address the company's governance and internal management after his father and sister reportedly failed to attend a meeting scheduled for 22 December last year, despite receiving notices.

Tao was also reportedly absent. Their absence meant the meeting failed to meet the quorum required under the Companies Act 2016.

The consent judgment paves the way for the EGM to take place on 31 October, allowing the parties to address the company's governance and internal management.