MAA CREDIT BERHAD 1. ) BEST BIRDNEST SDN BHD 2. ) GREENPOWER VALUE SDN BHD 3. ) DATUK LIM SUE BENG 4. ) LEE SIAH SIAN @ LEE HAY MN

MAA CREDIT BERHAD 1. ) BEST BIRDNEST SDN BHD 2. ) GREENPOWER VALUE SDN BHD 3. ) DATUK LIM SUE BENG 4. ) LEE SIAH SIAN @ LEE HAY MN

The court granted a conditional stay rather than an unconditional stay because the defendants failed to show special circumstances for an absolute stay; a conditional stay securing the principal judgment sum with stakeholders appropriately balances the parties’ interests and prevents prejudice to the plaintiff while preserving defendants' right to appeal. The defendants must deposit RM31,776,003.47 with the 1st defendant's solicitors as stakeholders within 14 days.

Citation
WA-22NCC-183-04/2023 (Mahkamah Tinggi)
Parties
Plaintiff: MAA Credit Berhad; 1st Defendant: Best Birdsnest Sdn Bhd; 2nd Defendant: Greenpower Value Sdn Bhd; 3rd Defendant: Datuk Lim Sue Beng; 4th Defendant: Lee Siah Sian @ Lee Hay Hian
Court
High Court
Jurisdiction
Malaysia
Judgment Date
14 May 2024
Case Number
WA-22NCC-183-04/2023 (Mahkamah Tinggi)
Procedural Posture
Civil Summary Judgment Enforcement and Stay Pending Appeal / High Court Determination of Stay Applications Following Summary Judgment, Appeals Pending to Court of Appeal
Outcome
Conditional stay of execution granted
Legal Topics
Stay of Execution, Summary Judgment, Appeal, Security for Judgment, Interest Charges, Moneylenders Act Compliance
Source Language
Malay/English
Civil Procedure Contract Banking and Finance Regulatory (moneylenders) Insolvency Stay of Execution Summary Judgment Appeal +3 more

Case Brief

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Parties

MAA Credit Berhad

Plaintiff

Best Birdsnest Sdn Bhd

1st Defendant

Greenpower Value Sdn Bhd

2nd Defendant

Datuk Lim Sue Beng

3rd Defendant

Lee Siah Sian @ Lee Hay Hian

4th Defendant

Procedural Posture

Civil Summary Judgment Enforcement and Stay Pending Appeal / High Court Determination of Stay Applications Following Summary Judgment, Appeals Pending to Court of Appeal

Legal Issues

  1. 1 Whether special circumstances exist to justify a stay of execution pending appeal
  2. 2 Whether stay should be unconditional or conditional and on what terms
  3. 3 Whether interest at 10% per annum on the principal after loan expiry was permissible

Ratio Decidendi

The court granted a conditional stay rather than an unconditional stay because the defendants failed to show special circumstances for an absolute stay; a conditional stay securing the principal judgment sum with stakeholders appropriately balances the parties’ interests and prevents prejudice to the plaintiff while preserving defendants' right to appeal. The defendants must deposit RM31,776,003.47 with the 1st defendant's solicitors as stakeholders within 14 days.

Court Disposition

Conditional stay of execution granted

Orders

  • Stay of execution of the Summary Judgment dated 8.12.2023 pending disposal of the appeals subject to the condition that the Defendants jointly or severally deposit the principal judgment sum of RM31,776,003.47 with the 1st Defendant's solicitors as stakeholders within 14 days
  • No order as to costs