KWAN CHEW HOLDINGS SDN BHD V. KWONG YIK BANK BHD
- Citation
- KWAN CHEW HOLDINGS SDN BHD V. KWONG YIK BANK BHD
- Court
- Malaysian court
On the objective matrix the overdraft facilities were in substance a RM550,000 bridging loan for the Taman Dangi project; the bank breached its contractual and equitable obligations by unilaterally reducing the limit, failing to credit approved end‑finance sums and dishonouring properly signed cheques; having acted on the common assumption and appointed an independent accountant (the bank's agent) the bank was estopped from denying the arrangement and stood in a special/joint‑venture fiduciary relationship entitling the plaintiff to damages; appeal allowed and judgment for plaintiff for damag…