Malayan Banking Berhad Maju Holdings Sdn Bhd & 1 lagi

Malayan Banking Berhad Maju Holdings Sdn Bhd & 1 lagi

Defendant failed to raise a bona fide triable issue: they accepted or did not genuinely challenge termination at the time, failed to provide the required turnaround plan despite reminders, loan documents empowered the bank to recall facilities, and the certificate of indebtedness was conclusive; accordingly summary...

Source-derived case information.

Citation
22NCC-97-02/2020 (Mahkamah Tinggi)
Parties
Plaintiff: MALAYAN BANKING BERHAD; Defendant: MAJU HOLDINGS SDN BHD; Defendant: ABU SAHID BIN MOHAMED
Court
High Court
Jurisdiction
Malaysia
Judgment Date
2 November 2020
Case Number
22NCC-97-02/2020 (Mahkamah Tinggi)
Procedural Posture
Commercial Debt Recovery (banking Facilities) / Summary Judgment Application Under Order 14 (allowed)
Outcome
Summary judgment entered for Plaintiff against both Defendants jointly and severally
Legal Topics
Summary Judgment, Loan Facilities, Guarantee, Termination, Certificate of Indebtedness, Unconscionability
Banking Contract Civil Procedure Debt Recovery Summary Judgment Loan Facilities Guarantee Termination +2 more

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Parties

MALAYAN BANKING BERHAD

Plaintiff

MAJU HOLDINGS SDN BHD

Defendant

ABU SAHID BIN MOHAMED

Defendant

Procedural Posture

Commercial Debt Recovery (banking Facilities) / Summary Judgment Application Under Order 14 (allowed)

Legal Issues

  1. 1 Whether termination of banking facilities was lawful
  2. 2 Whether failure to provide turnaround plan amounted to an event of default
  3. 3 Whether plaintiff complied with any notice/remedy requirements before termination

Ratio Decidendi

Defendant failed to raise a bona fide triable issue: they accepted or did not genuinely challenge termination at the time, failed to provide the required turnaround plan despite reminders, loan documents empowered the bank to recall facilities, and the certificate of indebtedness was conclusive; accordingly summary judgment was entered for the plaintiff.

Court Disposition

Summary judgment entered for Plaintiff against both Defendants jointly and severally

Orders

  • Judgment for Plaintiff for debt as per certificate of indebtedness
  • Costs awarded to Plaintiff RM7,500.00 (subject to 4% allocator)