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Due to allegedly unpaid debts amounting to more than RM30 million, Papparich Group Sdn Bhd faces a winding up action by their creditors (https://www.theedgemarkets.com/article/why-papparich-operator-hot-water). Citing
Due to allegedly unpaid debts amounting to more than RM30 million, Papparich Group Sdn Bhd faces a winding up action by their creditors (https://www.theedgemarkets.com/article/why-papparich-operator-hot-water). Citing relevant sections of the Companies Act in Malaysia 2016 and/or related cases, explain the rights of the creditors against Papparich in this winding up claim. Your answer may also mention the impact of such a proceeding against Papparich as a legal entity.(25 marks)
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