WONG THEAN CHYE & ANOR V. JUNIMAS SDN BHD & OTHER CASES

WONG THEAN CHYE & ANOR V. JUNIMAS SDN BHD & OTHER CASES

Construction of the assignment instruments showed parties intended the assignments to operate as security only (equitable choses in action) — evidenced by recitals and clauses requiring transfer and execution of statutory charge upon issuance of titles and references to 'security' and 'money hereby secured' — therefore the assignments were conditional and plaintiffs retained locus to sue.

Citation
WONG THEAN CHYE & ANOR V. JUNIMAS SDN BHD & OTHER CASES
Parties
Plaintiffs: Wong Thean Chye & Anor; Defendant: Junimas Sdn Bhd; Assignee/bank: Standard Chartered Bank Malaysia Berhad; Assignee/bank: Ban Hin Lee Bank Berhad
Court
Malaysian court
Jurisdiction
Malaysia
Procedural Posture
Civil Suit Contract/property (assignment) / Preliminary Issue Determination Under Rules of the High Court 1980 O.33 R.2 (locus Standi)
Outcome
Defendant's preliminary applications dismissed; court held assignments conditional and plaintiffs have locus standi to sue
Legal Topics
Assignment, Equitable Chose in Action, Locus Standi, Statutory Charge, Construction of Instrument, Civil Law Act 1956 S.4(3), Rules of the High Court O.33 R.2
Source Language
en
Contract Property Equity Civil Procedure Assignment Equitable Chose in Action Locus Standi Statutory Charge +3 more

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Parties

Wong Thean Chye & Anor

Plaintiffs

Junimas Sdn Bhd

Defendant

Standard Chartered Bank Malaysia Berhad

Assignee/bank

Ban Hin Lee Bank Berhad

Assignee/bank

Procedural Posture

Civil Suit Contract/property (assignment) / Preliminary Issue Determination Under Rules of the High Court 1980 O.33 R.2 (locus Standi)

Legal Issues

  1. 1 Whether the loan agreement cum deed of assignment was an absolute assignment or a conditional assignment by way of security
  2. 2 Whether plaintiffs retained locus standi to sue the developer despite the assignment to the bank
  3. 3 Proper construction of the assignment instrument under s.4(3) Civil Law Act 1956

Ratio Decidendi

Construction of the assignment instruments showed parties intended the assignments to operate as security only (equitable choses in action) — evidenced by recitals and clauses requiring transfer and execution of statutory charge upon issuance of titles and references to 'security' and 'money hereby secured' — therefore the assignments were conditional and plaintiffs retained locus to sue.

Court Disposition

Defendant's preliminary applications dismissed; court held assignments conditional and plaintiffs have locus standi to sue

Orders

  • Defendant's applications under Order 33 rule 2 dismissed with costs in the cause
  • Preliminary issue answered in the affirmative in favour of the plaintiffs (plaintiffs have locus standi)