Zaitun Marketing Sdn Bhd V Boustead Eldred Sdn Bhd (Formerly Known As Boustead Trading (1985) Sdn Bhd) - An Update.

The High Court has on 11/10/06 allowed Boustead Eldred's application for security for costs from Zaitun. Zaitun is to pay Boustead Eldred a sum of RM20,000 within 30 days from 11/10/06. Meanwhile all proceedings in this case shall be stayed until the security for costs is paid.

In another application, Boustead Eldred's lawyers would on 12/10/06 file the fair order with respect to the appointment of KPMG as the independent auditor in the main issue (this order was made by the High Court on 26/7/06). However, in view of the security for costs order, KPMG will not be able to proceed with its works since the entire proceedings have now been stayed.