1 Jan 1900
DANGA BAY SDN BHD (No. : 428615-D) 1. HAMIMAH BINTI HUSSIN (No. KP: 600226-66-5056) 2. SYAHRUL IZAM BIN AB RAHMAN (No. KP: 820701-01-5971) PIHAK KETIGA AFFIN ISLAMIC BANK BERHAD (No. : 709506-V)
- Citation
- J-02 (NCvC) (W)-2528-12/2018 (Mahkamah Rayuan)
- Court
- NCvC
- Case number
- J-02 (NCvC) (W)-2528-12/2018 (Mahkamah Rayuan)
The Court held the Settlement Agreement was frustrated under section 57 Contracts Act 1950 because the Developer's cessation of the Acquaint Danga Residensi project was unforeseeable, commercially impossible to continue, and not caused by the defendant; there was no sufficient evidence to pierce corporate separateness between defendant and Developer; consequently the High Court award of RM1,473,717.19 was set aside and substituted with the admitted liquidated damages under clause 22(2) of the SPA of RM993,698.63; the apportionment of late payment interest and the order against Affin Bank were…