PEMIUTANG PENGHAKIMAN BANK KERJASAMA RAKYAT MALAYSIA BERHAD PENGHUTANG PENGHAKIMAN MOHD SAIFUL AZUAR BIN MD ISA

PEMIUTANG PENGHAKIMAN BANK KERJASAMA RAKYAT MALAYSIA BERHAD PENGHUTANG PENGHAKIMAN MOHD SAIFUL AZUAR BIN MD ISA

The debtor's challenge to the bankruptcy notice was time-barred under s3 IA 1967 for failing to dispute the quantum within seven days, therefore the AO & RO annulment was incorrect; additionally, a consent judgment is contractual and, absent express contrary agreement, liability of multiple promisors is joint and several under Contracts Act s44(1); BN computations should reflect applicable post-judgment charges but that challenge may be pursued administratively with the DGI.

Citation
AA-29PB-165-08/2020 (Mahkamah Tinggi)
Parties
Judgment Debtor: Mohd Saiful Azuar Bin Md Isa; Judgment Creditor: Bank Kerjasama Rakyat Malaysia Berhad; Officer for Insolvency Director General: Director General of Insolvency (represented)
Court
High Court
Jurisdiction
Malaysia
Judgment Date
16 July 2021
Case Number
AA-29PB-165-08/2020 (Mahkamah Tinggi)
Procedural Posture
Bankruptcy / Appeal to Judge in Chambers (judgment)
Outcome
Appeal allowed; decision of Senior Assistant Registrar set aside; AO & RO dated 18.7.2014 restored
Legal Topics
Consent Judgment, Joint and Several Liability, Bankruptcy Notice, Act of Bankruptcy, Annulment Under S105 IA 1967, Statutory Time Bar, Post Judgment Interest, Ta'widh
Source Language
Malay/English
Bankruptcy Insolvency Contract Civil Procedure Islamic Finance Consent Judgment Joint and Several Liability Bankruptcy Notice +5 more

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Parties

Mohd Saiful Azuar Bin Md Isa

Judgment Debtor

Bank Kerjasama Rakyat Malaysia Berhad

Judgment Creditor

Director General of Insolvency (represented)

Officer for Insolvency Director General

Procedural Posture

Bankruptcy / Appeal to Judge in Chambers (judgment)

Legal Issues

  1. 1 Whether bankruptcy proceedings were lawfully initiated in Ipoh
  2. 2 Whether the amount demanded in the bankruptcy notice (BN) was correct and gave rise to an act of bankruptcy
  3. 3 Whether the debtor was time-barred from disputing the quantum in the BN

Ratio Decidendi

The debtor's challenge to the bankruptcy notice was time-barred under s3 IA 1967 for failing to dispute the quantum within seven days, therefore the AO & RO annulment was incorrect; additionally, a consent judgment is contractual and, absent express contrary agreement, liability of multiple promisors is joint and several under Contracts Act s44(1); BN computations should reflect applicable post-judgment charges but that challenge may be pursued administratively with the DGI.

Court Disposition

Appeal allowed; decision of Senior Assistant Registrar set aside; AO & RO dated 18.7.2014 restored

Orders

  • Award costs: RM3,000 to Judgment Creditor subject to allocatur
  • Award costs: RM1,000 to Director General of Insolvency