9 Aug 2024
RHB BANK BERHAD ASCEND I-CORP SDN BHD
- Citation
- BA-24FC-1244-12/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- BA-24FC-1244-12/2023 (Mahkamah Tinggi)
Although Plaintiff established a prima facie entitlement to an order for sale under s256 NLC, the Defendant demonstrated a legally cognizable 'cause to the contrary' by showing active attempts to reconcile accounts, engagement with AKPK for restructuring and the existence of pending appeal proceedings that could render immediate sale inequitable or nugatory; accordingly the court refused the order for sale and dismissed the originating summons without costs.