KUALA LUMPUR: Investment funds channelled into FashionValet Sdn Bhd could not be used to pay dividends to any party, including the company's shareholders, the Sessions Court heard today.
Corporate lawyer Anne Wong Wai Yee said this was stipulated in the Shareholders' Agreement signed on March 5, 2018, between the e-commerce and fashion retail company and six investment-related companies.
She said she was responsible for preparing the draft agreement.
The six companies were Proven Holding Sdn Bhd, My E.G. Capital Sdn Bhd, Transasia E-Commerce Inc., Start Today Co. Ltd., Reussi Sdn Bhd and Pulau Tiga Ventures Sdn Bhd.
