3 Feb 2020
BANK PEMBANGUNAN MALAYSIA BERHAD SPRING HILL BIOVENTURES SDN BHD
- Citation
- W-02(NCC)(W)-1721-08/2017 (Mahkamah Rayuan)
- Court
- NCC
- Case number
- W-02(NCC)(W)-1721-08/2017 (Mahkamah Rayuan)
The Court held the impugned letters are contracts of guarantee under s79 (the principal debtor's request may be implied from surrounding documents and conduct), the letters do not impose an express obligation on the creditor to notify the surety of default, and variations to the facilities made without the surety's consent discharged the surety under section 86 (discharge as to transactions subsequent to the variation). Accordingly the Respondent was released from liabilities under the 1st Term Loan with effect from the variation date (23.10.2009) and had previously been released in respect o…