Lai Sing Foo 1. Kenanga Investment Bank Berhad 2. Lee Kim Lin 3. Wong Kong Choong @ Leong Kong Choong

Lai Sing Foo 1. Kenanga Investment Bank Berhad 2. Lee Kim Lin 3. Wong Kong Choong @ Leong Kong Choong

The application was dismissed because the proposed preliminary issue regarding admission of third party trading documents would not dispose of or substantially dispose of the action and thus did not satisfy the threshold for a determination under Order 33 r.2; the matter was also precluded by earlier court directions (res judicata); and admission or inquiry into third party account information would breach statutory secrecy obligations under sections 133 and 134 and Schedule 11 of the Financial Services Act 2013 absent written consent.

Citation
22NCC-662-11/2019 (Mahkamah Tinggi)
Parties
Plaintiff: Lai Sing Foo; 1st Defendant: Kenanga Investment Bank Berhad; 2nd Defendant: Lee Kim Lin; 3rd Defendant: Wong Kong Choong @ Leong Kong Choong
Court
High Court
Jurisdiction
Malaysia
Judgment Date
29 June 2021
Case Number
22NCC-662-11/2019 (Mahkamah Tinggi)
Procedural Posture
Commercial Division Civil Suit / Pre Trial (application Under Order 33 Rule 2 for Preliminary Issue)
Outcome
Plaintiff's application dismissed with costs
Legal Topics
Preliminary Issue Determination, Res Judicata, Bank Secrecy/confidentiality Under Financial Services Act 2013, Admissibility of Third Party Documents, Agency and Misrepresentation
Source Language
Malay/English
Civil Procedure Banking and Financial Services Law Evidence Law Securities/capital Markets Preliminary Issue Determination Res Judicata Bank Secrecy/confidentiality Under Financial Services Act 2013 Admissibility of Third Party Documents +1 more

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Parties

Lai Sing Foo

Plaintiff

Kenanga Investment Bank Berhad

1st Defendant

Lee Kim Lin

2nd Defendant

Wong Kong Choong @ Leong Kong Choong

3rd Defendant

Procedural Posture

Commercial Division Civil Suit / Pre Trial (application Under Order 33 Rule 2 for Preliminary Issue)

Legal Issues

  1. 1 Whether the proposed preliminary issue under Order 33 r.2 relates to facts pleaded and whether it should be determined pre-trial
  2. 2 Whether determination of the proposed issue would dispose of or substantially dispose of the action and save time and costs
  3. 3 Whether the issue is barred by res judicata given prior court directions

Ratio Decidendi

The application was dismissed because the proposed preliminary issue regarding admission of third party trading documents would not dispose of or substantially dispose of the action and thus did not satisfy the threshold for a determination under Order 33 r.2; the matter was also precluded by earlier court directions (res judicata); and admission or inquiry into third party account information would breach statutory secrecy obligations under sections 133 and 134 and Schedule 11 of the Financial Services Act 2013 absent written consent.

Court Disposition

Plaintiff's application dismissed with costs

Orders

  • Plaintiff's application under Order 33 Rule 2 (Enclosure 134) is dismissed
  • Costs awarded to the 1st Defendant