19 Jul 2021
ASIA NEW VENTURE CAPITAL HOLDINGS SDN BHD (Company No.: 1287433-H) MALAYSIA PACIFIC CORPORATION BERHAD (Company No.: 12200-M)
- Citation
- WA-22NCC-41-01/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-41-01/2020 (Mahkamah Tinggi)
Clause 2.1.5 contained two limbs (JMB confirmation of amount and vendor's solicitors' undertaking to apply part of balance purchase price). The second limb was satisfied by the Defendant's solicitors' letter dated 24 September 2019 undertaking to pay outstanding from the balance purchase price; therefore the Unconditional Date was 24 September 2019. Under the Supplemental Agreement the Defendant agreed to reimburse Plaintiff's cost of funds at the current rate charged by banks; 9% p.a. was reasonable. Plaintiff proved entitlement to cost of funds for period 2 July 2019 to 24 September 2019 an…