27 Sept 2023
CHINA CONSTRUCTION YANGTZE RIVER (MALAYSIA) SDN BHD 1. ) MULTIBAY DEVELOPMENT SDN BHD 2. ) CHINA CONSTRUCTION BANK (MALAYSIA) BERHAD
- Citation
- WA-24NCC-78-02/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-78-02/2023 (Mahkamah Tinggi)
The Court dismissed the Plaintiff's Amended Originating Summons because, on consideration of post-demand evidence (the 1st Defendant's assessment report and the completed re-tender resulting in new contracts), the 1st Defendant had ascertained and quantified losses (RM67,083,500.58) arising from its determination of the contracts such that payment under the performance bonds would not produce over-securitisation or be unconscionable; the Court also held it was entitled to consider evidence adduced after the demand and there were no exceptional circumstances to restrain payment, therefore the…