25 Jun 2020
HE CON SDN BHD 1. BULYAH BINTI ISHAK 2. NORAINI BINTI ABDULLAH
- Citation
- 02(f)-22-03/2019(B) (Mahkamah Persekutuan)
- Court
- f
- Case number
- 02(f)-22-03/2019(B) (Mahkamah Persekutuan)
The Federal Court affirmed the Court of Appeal: the SPA and the irrevocable registered PA established on the balance of probabilities that the deceased had paid the full purchase price and obtained the beneficial interest; He-Con thereby became a bare trustee and lacked capacity to create a valid charge; Ambank was an immediate chargee whose registered interest was defeasible under s.340(2) NLC and therefore Ambank could not invoke the proviso to s.340(3); both appeals dismissed and Court of Appeal decision affirmed.