1 Jul 2024
CHINA NATIONAL TECHNICAL IMPORT & EXPORT CORPORATION 1. ) PJD LINK (M) SDN BHD 2. ) ALLIANCE BANK MALAYSIA BERHAD 3. ) BANK OF CHINA (MALAYSIA) BERHAD
- Citation
- WA-24C-126-08/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24C-126-08/2023 (Mahkamah Tinggi)
The written Assignment dated 3 April 2018 was effective to assign the assignor's present and future rights in the Bank Guarantee to AIBB (subsequently vested in ABMB); the Bank Guarantee is an unconditional on‑demand guarantee and the assignee was entitled to call on it; the assignor could not lawfully impose post‑assignment conditions in the Notice of Assignment to convert the guarantee into a conditional instrument; accordingly the ex parte injunction was discharged and the plaintiff's originating summons dismissed as unsustainable.