15 Oct 2021
CYPARK SDN BHD KNM PROCESS SYSTEMS SDN BHD
- Citation
- B-02(C)(A)-551-03/2020 (Mahkamah Rayuan)
- Court
- C
- Case number
- B-02(C)(A)-551-03/2020 (Mahkamah Rayuan)
The Court of Appeal held that the High Court acted within its discretion under s.11 Arbitration Act 2005 to grant interim injunctions restraining the defendant from calling or receiving proceeds of the two on‑demand bank guarantees pending arbitration, subject to just conditions (including extension of BG validity); final relief such as declarations or damages lay exclusively to the arbitral tribunal and were set aside where issued; injunctions require a seriously arguable case of unconscionability or fraud, inadequacy of damages, and favorable balance of convenience, all of which the High Co…