HSBC AMANAH MALAYSIA BERHAD 1. ) ONYX ENGINEERING SDN BHD 2. ) MOHAMED ASHARI BIN ABAS 3. ) AHMAD NIDZAR BIN HAMZAH

HSBC AMANAH MALAYSIA BERHAD 1. ) ONYX ENGINEERING SDN BHD 2. ) MOHAMED ASHARI BIN ABAS 3. ) AHMAD NIDZAR BIN HAMZAH

Plaintiff established the prima facie case and produced a conclusive Certificate of Indebtedness under the letters of offer; defendants failed to rebut by showing manifest error or producing contemporaneous evidence of non-utilisation and had made admissions of non-payment in contemporaneous correspondence,...

Source-derived case information.

Citation
WA-22M-32-02/2021 (Mahkamah Tinggi)
Parties
Plaintiff: HSBC Amanah Malaysia Berhad; Defendant: Onyx Engineering Sdn Bhd; Defendant: Mohamed Ashari bin Abas; Defendant: Ahmad Nidzar bin Hamzah
Court
High Court
Jurisdiction
Malaysia
Judgment Date
22 September 2021
Case Number
WA-22M-32-02/2021 (Mahkamah Tinggi)
Procedural Posture
Civil (banking/contract) / Summary Judgment Application (order 14 ROC 2012)
Outcome
Summary judgment entered for the Plaintiff
Legal Topics
Summary Judgment, Certificate of Indebtedness, Limited Guarantee, Default, Ta'widh (late Payment Compensation), Conclusive Evidence Clause
Banking Contract Civil Procedure Guarantee Islamic Finance Summary Judgment Certificate of Indebtedness Limited Guarantee +3 more

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Summary, issues, holding and outcome

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Parties

HSBC Amanah Malaysia Berhad

Plaintiff

Onyx Engineering Sdn Bhd

Defendant

Mohamed Ashari bin Abas

Defendant

Ahmad Nidzar bin Hamzah

Defendant

Procedural Posture

Civil (banking/contract) / Summary Judgment Application (order 14 ROC 2012)

Legal Issues

  1. 1 Whether plaintiff entitled to summary judgment on sums claimed under Bai Al-Inah and Commodity Murabahah financings and related guarantees
  2. 2 Whether a bank's Certificate of Indebtedness pursuant to a conclusive evidence clause is binding save for manifest error
  3. 3 Whether defendants raised a bona fide triable issue regarding calculation and utilisation of the Cash Line-i financing

Ratio Decidendi

Plaintiff established the prima facie case and produced a conclusive Certificate of Indebtedness under the letters of offer; defendants failed to rebut by showing manifest error or producing contemporaneous evidence of non-utilisation and had made admissions of non-payment in contemporaneous correspondence, therefore no bona fide triable issue existed and summary judgment for the plaintiff was appropriate.

Court Disposition

Summary judgment entered for the Plaintiff

Orders

  • Summary judgment for HSBC Amanah Malaysia Berhad against the Defendants for the outstanding sums claimed on the Cash Line-i and Export Line-i financings as at 10.2.2021