PKFZ case's OC Phang declared a bankrupt

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Port Klang Authority’s (PKA) bid to claim part of its losses amounting to more than RM2 billion related to the Port Klang Free Zone (PKFZ) debacle have all but disappeared. Despite the ruling by the High Court in Shah Alam in September 2018 that its former general manager was liable for the losses, she has been declared a bankrupt.The High Court in Kuala Lumpur declared Phang Oi Choo @ Phang Ai Tu, also known as OC Phang, a bankrupt on Aug 17, 2019, following a petition from 21 former directors of PKA.This means PKA will not be able to recover the RM2.6 billion and over RM200,000 as costs assessed by the court after Phang was found liable for, among others, breach of fiduciary duties and mismanagement.According to records from the Insolvency Department, the bankruptcy petition was moved by the group including two former ministers – Ting Chew Peh and Khor Chee Heung. It was cla…