Country Heights founder to fight insolvency claim

“As a Malaysian citizen, I will only follow and submit myself to the Malaysian jurisdiction,” Lee said.

PETALING JAYA: Tan Sri Lee Kim Yew said he will fight the insolvency claim against him and is adamant about only submitting himself to the Malaysian jurisdiction after being adjudged bankrupt on Jan 26, 2023.

“As a Malaysian citizen, I will only follow and submit myself to the Malaysian jurisdiction,” he said in a press conference yesterday.

ALSO READ: Country Heights founder Lee Kim Yew declared bankrupt

The founder of the Country Heights Group of companies confirmed submitting himself to the Malaysian Department of Insolvency (MDI) on Monday this week and filled in the reasons for his bankruptcy.

Lee added his next step is to file his statement of affairs to the MDI within 21 days of the MDI meeting in accordance with the Insolvency Act 1967.

“The main thing now is I have to work hard to submit my statement of affairs and not to delay the submission,” Lee said.

Lee challenged the plaintiff Patrick Healy to go directly to the MDI in Malaysia and submit his proof of debt.

ALSO READ: ‘I am far from insolvency’

He again clarified the RM3mil legal suit was the result of a personal dispute between himself and Healy.

“I would be more ashamed to give in to the claim by paying the RM3mil to Patrick Healy, as it will be against my life values, principles and philosophies,” Lee added.

Lee, who is the largest shareholder of Country Heights Holdings Bhd with a 57.64% stake, had resigned as executive chairman of the company on Feb 3.

He was then declared bankrupt by the Shah Alam High Court on April 12.