8 Dec 2020
VALIANT DEVELOPMENT SDN BHD MALAYAN BANKING BERHAD
- Citation
- JA-24NCVC-195-04/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- JA-24NCVC-195-04/2020 (Mahkamah Tinggi)
Section 8(2A) of the Bankruptcy Act 1967 bars a secured creditor from charging interest after a winding-up/bankruptcy order where the security is not realised within the statutory period; on the undisputed facts the Charged Properties were realised well after the statutory period and therefore MBB was not entitled to interest; alleged agreements or conduct cannot validate a statutory prohibition; no further factual inquiry was required so conversion to writ was unnecessary.