23 Jul 2021
1. MAPLE AMALGAMATED SDN.BHD 2. LIEW HON KONG @ LIEW KWAN VOON BANK PERTANIAN MALAYSIA BERHAD
- Citation
- 02(f)-54-09/2020(A) (Mahkamah Persekutuan)
- Court
- f
- Case number
- 02(f)-54-09/2020(A) (Mahkamah Persekutuan)
The Federal Court held that the BBA Asset Purchase and Asset Sale Agreements did not amount in form or substance to a ‘transfer, conveyance or disposal’ within section 214A of the National Land Code; given the purpose of s214A to prevent fragmentation and dispossession of estate land and the need to favor commercially sensible constructions absent clear legislative intent, the BBA transaction is valid and enforceable and the registered charge stands; appeal dismissed.