14 Apr 2025
PAX INVESTMENTS LIMITED STANDARD CHARTERED BANK MALAYSIA BERHAD
- Citation
- WA-22NCC-231-05/2022 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-231-05/2022 (Mahkamah Tinggi)
The bank breached its contractual and common law duties by mishandling the due diligence/reactivation process and negligently handling the garnishee proceedings (deficient notification, failure to dispute liability and improper release); those breaches were the but-for and proximate cause of the Plaintiff's loss; Plaintiff entitled to recover principal RM6,588,605.74 plus recoverable special damages (Malaysian legal fees and travel expenses) and interest; costs awarded on standard basis.