MASTIRA SDN BHD V MOTORCYCLE INDUSTRIES (M) SDN BHD & 2 ORS
- Citation
- MASTIRA SDN BHD V MOTORCYCLE INDUSTRIES (M) SDN BHD & 2 ORS
- Court
- Malaysian court
Because the charge in this case was an equitable charge (not registered under the National Land Code) the receivers and managers had power under the debenture to sell without a judicial sale; however the court exercised its discretion under s.21(1) Specific Relief Act and refused specific performance because the plaintiff failed to demonstrate continuous readiness and willingness to complete the purchase (long unexplained delay and failure to pay the balance), and therefore the plaintiff's claims were dismissed and the deposit was forfeited.