5 Jul 2022
LOKE SIM YOON OCBC BANK (MALAYSIA) BERHAD
- Citation
- JA-24NCvC-556-09/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- JA-24NCvC-556-09/2021 (Mahkamah Tinggi)
Given the lockdown (MCO) and operational constraints that prevented timely completion despite the applicant having approved financing and readiness to pay, the bank's refusal to grant a short extension and its termination of the sale on the 121st day was inequitable and unconscionable; the bank should have exercised its contractual discretion equitably, and forfeiture/termination in the circumstances constituted unjust enrichment; accordingly the originating summons to extend time and allow completion on payment of the balance (RM378,000) was allowed.