CIMB Bank Berhad 1. Reliance Shipping & Travel Agencies Sdn Berhad 2. Dato' Gan Eng Kwong 3. Datin Irene Tan

CIMB Bank Berhad 1. Reliance Shipping & Travel Agencies Sdn Berhad 2. Dato' Gan Eng Kwong 3. Datin Irene Tan

Summary judgment was dismissed because the Plaintiff's supporting affidavit failed to verify adequately the material facts underpinning the claim (did not specify salient contractual provisions, did not demonstrate that the Statement of Account was conclusive as to guarantors' liability, and failed to produce evidence of Plaintiff's Cost of Fund), and because conflicting evidence on the applicable interest rate and Cost of Fund raised a triable issue requiring oral evidence.

Citation
22NCC-588-10/2019 (Mahkamah Tinggi)
Parties
Plaintiff: CIMB Bank Berhad; 1st Defendant: Reliance Shipping & Travel Agencies Sdn Berhad; 2nd Defendant: Dato' Gan Eng Kwong; 3rd Defendant: Datin Irene Tan
Court
High Court
Jurisdiction
Malaysia
Judgment Date
30 March 2020
Case Number
22NCC-588-10/2019 (Mahkamah Tinggi)
Procedural Posture
Commercial Division: Breach of Contract and Guarantee/indemnity / Application for Summary Judgment Under Order 14 Ro C 2012
Outcome
Application for summary judgment dismissed with costs
Legal Topics
Summary Judgment, Breach of Contract, Guarantee Liability, Interest Calculation and Cost of Funds, Affidavit Verification of Cause of Action, Statement of Account as Evidence
Source Language
Malay/English
Contract Banking Law Civil Procedure Guarantee and Indemnity Evidence Summary Judgment Breach of Contract Guarantee Liability +3 more

Case Brief

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Parties

CIMB Bank Berhad

Plaintiff

Reliance Shipping & Travel Agencies Sdn Berhad

1st Defendant

Dato' Gan Eng Kwong

2nd Defendant

Datin Irene Tan

3rd Defendant

Procedural Posture

Commercial Division: Breach of Contract and Guarantee/indemnity / Application for Summary Judgment Under Order 14 Ro C 2012

Legal Issues

  1. 1 Whether the Plaintiff satisfied Order 14 preliminary requirements and adequately verified the material facts in its supporting affidavit
  2. 2 Whether the Statement of Account exhibited by the Plaintiff is conclusive and binding on the guarantors
  3. 3 Whether there is a triable issue concerning the correct interest rate and Plaintiff's Cost of Fund that requires oral evidence

Ratio Decidendi

Summary judgment was dismissed because the Plaintiff's supporting affidavit failed to verify adequately the material facts underpinning the claim (did not specify salient contractual provisions, did not demonstrate that the Statement of Account was conclusive as to guarantors' liability, and failed to produce evidence of Plaintiff's Cost of Fund), and because conflicting evidence on the applicable interest rate and Cost of Fund raised a triable issue requiring oral evidence.

Court Disposition

Application for summary judgment dismissed with costs

Orders

  • Summary judgment application dismissed with costs