17 Aug 2022
PEMIUTANG PENGHAKIMAN Lonpac Insurance Berhad PENGHUTANG PENGHAKIMAN Embi bin Bahari
- Citation
- WA-29NCC-1006-10/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-29NCC-1006-10/2021 (Mahkamah Tinggi)
The Letter of Indemnity, construed on its terms, created an independent indemnity obligation making the judgment debtor an indemnifier not a guarantor; therefore ss 5(3)-(6) IA did not preclude the creditor from presenting the bankruptcy petition without leave. The underlying judgment ordered payment by all defendants and, on authorities, defendants are jointly and severally liable so the debtor is liable for the entire judgment sum. Accordingly the applications to oppose and to set aside the petition fail.