21 Dec 2021
PUBLIC BANK BERHAD No. Syarikat: 196501000672 (6463-H) G.M.P. Masyhur Sdn Bhd No. Syarikat: 199601010618 (382967-H)
- Citation
- PA-24FC-176-05/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- PA-24FC-176-05/2020 (Mahkamah Tinggi)
The court found the Masyhur Group defaulted, the plaintiff validly declared an event of default and reverted to the existing loan facility as permitted by the Settlement Agreement, issued a valid Form 16D and satisfied conditions precedent under the NLC; interest claimed was permissible under the agreements and the statement of account was conclusive; the defendant failed to prove any cause to the contrary, therefore an order for sale was mandatory under s256/257 NLC.