KUALA LUMPUR (Feb 15): The former managing director of KIAN JOO CAN FACTORY BHD [] (KJCF) and 13 others have filed an application seeking the review of the Federal Court ruling that gave the nod for CAN-ONE BHD [] to buy the 32.9 pct stake of KJCF.

Can-One said on Wednesday it was informed by its solicitors that Datuk See Teow Chuan and the 13 other applicants had applied for the Federal Court order dated Jan 5, 2010 be reviewed and set aside.

It said its solicitors had on Monday received two notices of motion and the affidavits in support from Messrs V K Lingam & Co, who is acting on behalf of See and the applicants.

The application was for the appeals to be re-heard by the Federal Court consisting of judges of the Federal Court other than those who heard and decided upon the appeals on Jan 5.

To recap, Can-One Bhd said on Jan 5 it had won the legal tussle to acquire the 146.13 million KJCF shares held by Kian Joo Holdings Sdn Bhd after a Federal Court ruled in its favour.

Can-One had then said the apex court had allowed its appeal to proceed with the completion of the acquisition of the 32.9% stake for RM241.11 million.

However, in the latest development, See and the 13 other applicants had sought to restrain Ooi Woon Chee and Ng Kim Tuck from distributing the RM241.11 million from the sale of the 146.13 million KJCF shares to Can-One International Sdn Bhd.

They also applied for Can-One International be restrained from selling and/or disposing of the whole or any part of the 146.13 KJCF shares purchased from Kian Joo Holdings Sdn Bhd pending the hearing and final disposal of the application.

Can-One said it would be opposing the applications and it was in the process of taking legal advice.