TAN SRI DATO’ SRI RAMASAMY A/L MUTHUSAMY 1. ALLIANCE BANK MALAYSIA BERHAD 2. SRI MUDA CORNER HOLDINGS (M) SDN BHD

TAN SRI DATO’ SRI RAMASAMY A/L MUTHUSAMY 1. ALLIANCE BANK MALAYSIA BERHAD 2. SRI MUDA CORNER HOLDINGS (M) SDN BHD

Because the purchaser had absolutely assigned his rights to the bank the bank was the beneficial owner and the developer (and its director) could not, by a subsequent side‑deal or purported power of attorney made without the bank's consent, create or assert proprietary rights that defeat the bank's assignee; the...

Source-derived case information.

Citation
BA-24-6-01/2020 (Mahkamah Tinggi)
Parties
Plaintiff: TAN SRI DATO' SRI RAMASAMY A/L MUTHUSAMY; 1st Defendant: ALLIANCE BANK MALAYSIA BERHAD; 2nd Defendant: SRI MUDA CORNER HOLDINGS (M) SDN BHD
Court
High Court
Jurisdiction
Malaysia
Judgment Date
22 July 2020
Case Number
BA-24-6-01/2020 (Mahkamah Tinggi)
Procedural Posture
Originating Summons (declaration, Injunctive Relief, Alternative Damages) / Judgment (high Court of Shah Alam)
Outcome
Originating Summons dismissed with costs
Legal Topics
Absolute Assignment, Power of Attorney, Private Caveat, Loan Agreement Cum Assignment (laca) Auction, Locus Standi, Trustee Duties, Priority of Interests, Certificate of Sale (nlc)
Land Law Contract Law Company Law Equity and Trusts Civil Procedure Absolute Assignment Power of Attorney Private Caveat +5 more

Source-derived case record

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 5 Authorities cited 15 Party arguments 2 Amounts and remedies 7
Sign in to unlock

Parties

TAN SRI DATO' SRI RAMASAMY A/L MUTHUSAMY

Plaintiff

ALLIANCE BANK MALAYSIA BERHAD

1st Defendant

SRI MUDA CORNER HOLDINGS (M) SDN BHD

2nd Defendant

Procedural Posture

Originating Summons (declaration, Injunctive Relief, Alternative Damages) / Judgment (high Court of Shah Alam)

Legal Issues

  1. 1 Whether a developer's subsequent side‑deal can defeat an absolute assignment to an end‑financing bank and prevent the bank from auctioning the property
  2. 2 Whether a director of the developer has locus standi to sue in his personal capacity relying on a purported power of attorney made to the developer
  3. 3 Whether a private caveat lodged by the director/developer prevents a LACA auction and proclamation of sale

Ratio Decidendi

Because the purchaser had absolutely assigned his rights to the bank the bank was the beneficial owner and the developer (and its director) could not, by a subsequent side‑deal or purported power of attorney made without the bank's consent, create or assert proprietary rights that defeat the bank's assignee; the plaintiff as director lacked locus standi to sue in his personal capacity and the LACA auction and proclamation of sale were valid despite the private caveat.

Court Disposition

Originating Summons dismissed with costs

Orders

  • Originating Summons dismissed
  • Costs awarded to 1st Defendant in the sum of RM15000 subject to allocatur