The company Raub Australian Gold Mining (RAGM) has applied for voluntary liquidation after being embroiled with controversies and suffering great losses.
However, the move was met with several objections at a meeting held with the creditors today.
According to RAGM's statement of affairs, which was presented at the meeting, the company recorded an estimated deficiency of RM293,345,093.
The meeting of creditors was held at liquidator Ferrier Hodgson's office at Bangsar South City in Kuala Lumpur.
The statement of affairs as at April 28, prepared and signed by RAGM director, was presented to the creditors by Ferrier Hodgson director Lim Litt who chaired the meeting.