13 Jun 2024
Majlis Amanah Rakyat (MARA) NAGUIB BIN MOHD NOR
- Citation
- WA-22NCC-171-04/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-171-04/2021 (Mahkamah Tinggi)
Clauses 6.1(b) and 6.2(b) unambiguously limit the Defendant's liability for profit shortfalls to assignment of his entitlement to dividends; there is no express or implied term making the Defendant personally liable in cash where dividends are not declared or are insufficient. The defendant did not breach those clauses. The Defendant failed to satisfy formal notice and valuation requirements to trigger specific performance of the option to purchase shares; therefore specific performance is refused. Plaintiff's claim and Defendant's counterclaim are dismissed and each party bears its own costs.