1. ) Good Quantum Sdn. Bhd. 2. ) Datuk Chang Kok Chuang 3. ) Right Development Activities Sdn. Bhd. Alliance Investment Bank Berhad

1. ) Good Quantum Sdn. Bhd. 2. ) Datuk Chang Kok Chuang 3. ) Right Development Activities Sdn. Bhd. Alliance Investment Bank Berhad

The Court held (i) the Court of Appeal did not find AIBB responsible for the Securities Commission's rejection and evidence of losses arising from that rejection is excluded from assessment; (ii) the phrase 'general damages' in the pleadings and Grounds of Judgment in the present case covers both pecuniary and non-pecuniary losses so evidence on both is admissible; and (iii) because the Liability Judgment ordering assessment of damages for breach of the collateral contract and for illegal/wrongful and negligent sale remains operative, the Assessing Party may adduce evidence in support of those three limbs although AIBB may still raise challenges as to locus standi, overlap and double...

Citation
WA-28PW-277-10/2021 (Mahkamah Tinggi)
Parties
Plaintiff (original Action); Defendant (counterclaim): Alliance Investment Bank Berhad; 1st Defendant (original Action): Good Quantum Sdn Bhd; 2nd Defendant (original Action): Dato Hamzah bin Ghazali; 3rd Defendant (original Action); Plaintiff (counterclaim): Datuk Chang Kok Chuang; 4th Defendant (original Action): Wong Hon Keong; Plaintiff (counterclaim): Right Development Activities Sdn Bhd
Court
High Court
Jurisdiction
Malaysia
Judgment Date
6 January 2023
Case Number
WA-28PW-277-10/2021 (Mahkamah Tinggi)
Procedural Posture
Assessment of Damages Following Liability Judgment / Preliminary Issues Decision and Case Management for Assessment Hearing
Outcome
Preliminary issues decided: excluded evidence relating to losses from Securities Commission rejection; held general damages encompass pecuniary and non-pecuniary losses in this case; allowed assessment to proceed on three limbs subject to challenges; procedural timetable set.
Legal Topics
Assessment of Damages, Collateral Contract, General Damages, Wrongful/negligent Sale of Shares, Interpretation of Appellate Judgment, Locus Standi, Remoteness, Causation, Duty to Mitigate, Preliminary Issues
Source Language
Malay/English
Contract Tort Civil Procedure Commercial Law Equity Assessment of Damages Collateral Contract General Damages +7 more

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Parties

Alliance Investment Bank Berhad

Plaintiff (original Action); Defendant (counterclaim)

Good Quantum Sdn Bhd

1st Defendant (original Action)

Dato Hamzah bin Ghazali

2nd Defendant (original Action)

Datuk Chang Kok Chuang

3rd Defendant (original Action); Plaintiff (counterclaim)

Wong Hon Keong

4th Defendant (original Action)

Right Development Activities Sdn Bhd

Plaintiff (counterclaim)

Procedural Posture

Assessment of Damages Following Liability Judgment / Preliminary Issues Decision and Case Management for Assessment Hearing

Legal Issues

  1. 1 Whether Court of Appeal made a finding that AIBB was responsible for Securities Commission's rejection of the PCB Restructuring Scheme and whether losses from that rejection can be included in assessment of damages
  2. 2 What is the meaning and ambit of 'general damages' awarded to Datuk Chang and RDA
  3. 3 Whether the Court can assess damages for sale of PCB Shares when transactional documents conferring beneficial ownership were declared invalid/ineffective by the Court of Appeal

Ratio Decidendi

The Court held (i) the Court of Appeal did not find AIBB responsible for the Securities Commission's rejection and evidence of losses arising from that rejection is excluded from assessment; (ii) the phrase 'general damages' in the pleadings and Grounds of Judgment in the present case covers both pecuniary and non-pecuniary losses so evidence on both is admissible; and (iii) because the Liability Judgment ordering assessment of damages for breach of the collateral contract and for illegal/wrongful and negligent sale remains operative, the Assessing Party may adduce evidence in support of those three limbs although AIBB may still raise challenges as to locus standi, overlap and double...

Court Disposition

Preliminary issues decided: excluded evidence relating to losses from Securities Commission rejection; held general damages encompass pecuniary and non-pecuniary losses in this case; allowed assessment to proceed on three limbs subject to challenges; procedural timetable set.

Orders

  • Assessing Party is precluded from adducing any evidence relating to losses arising from the Securities Commission's rejection of the PCB Restructuring Scheme attributable to AIBB
  • General damages awarded to Datuk Chang and RDA are to be treated as covering pecuniary and non-pecuniary losses and evidence to prove both categories may be adduced