21 Feb 2024
MALAYAN BANKING BERHAD 1. ) HO HUP CONSTRUCTION COMPANY BERHAD 2. ) SENI KENANGA SDN BHD 3. ) HJ SAID BINAAN SDN BHD
- Citation
- WA-22NCC-112-03/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-112-03/2019 (Mahkamah Tinggi)
The Deed of Assignment and the NACI satisfied s.4(3) CLA: they constituted a written absolute assignment with express notice to the debtor, thereby transferring the legal right to the proceeds and the plaintiff’s right to sue the 1st defendant in its own name; the NACI bound the 1st defendant (and estoppel applied because of prior compliance); the evidence did not support genuine termination of the JV nor the existence of LAD and back charges sufficient to extinguish the proceeds; the Letter of Undertaking constituted an admission of debt and was binding and could not be unilaterally revoked…