2 Aug 2024
1. ) FRANCO CHAN YOONG JURCH 2. ) WONG WAI YIN 3. ) SIN LEE PIN 4. ) LAU POH CHEOK YU KUAN CHON
- Citation
- WA-22NCvC-64-01/2022 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCvC-64-01/2022 (Mahkamah Tinggi)
The court held the assignments to banks were equitable mortgages that did not extinguish the Plaintiffs' proprietary rights; Plaintiffs therefore had locus standi to enforce the Buy-Back guarantees; Plaintiffs validly informed the Defendant within the validity period and the Defendant, who had the contractual right to decide when to execute the Buy-Back, failed to exercise it; accordingly Plaintiffs were entitled to damages in lieu of specific performance in the amount claimed and costs.