PESTEC appeals court dismissal of bid to block SPECO winding-up petition over alleged USD 10 million debt

Bitget2026/10/01 10:09

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PESTEC filed a Kuala Lumpur High Court action against SPECO over an undated corporate guarantee tied to an alleged USD 10 million debt.
The High Court dismissed PESTEC’s bid to block SPECO from pursuing a winding-up petition on 1 July 2026; an appeal is pending.
SPECO filed a winding-up petition on 3 August 2026; the hearing was reset to 25 November 2026.
PESTEC also launched civil proceedings against SPECO and former management to challenge the guarantee’s validity and enforceability.
An ad interim injunction obtained on 17 September 2026 restrains SPECO from enforcing or demanding payment under the guarantee.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. PESTEC International Bhd published the original content used to generate this news brief via Bursa Malaysia (KLSE) (Ref. ID: 3711227) on October 01, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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PESTEC appeals court dismissal of bid to block SPECO winding-up petition over alleged USD 10 million debt

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