18 Oct 2019
EXPORT-IMPORT BANK OF MALAYSIA BERHAD LIFE PARADISE SDN. BHD.
- Citation
- WA-24NCVC-769-04/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCVC-769-04/2019 (Mahkamah Tinggi)
The court held that the bank validly created a lien-holder's caveat under s.281 and s.330 of the National Land Code because the registered proprietor deposited the issue documents as security for a loan thereby establishing the requisite intention; the Malay Reservation Enactment s.10 did not bar registration because the bank fell within the Second Schedule exception (was statutorily recognised), and the statutory lien is separate from and unaffected by third-party charges that were subsequently declared invalid. Consequently the caveat is valid and the bank is entitled to apply for sale by p…