24 Oct 2025
TAN CHENG CHAI 1. ) ACE CREDIT (M) SDN BHD 2. ) CHANG AI NEE 3. ) CHOONG CHEE MENG
- Citation
- WA-22NCC-646-09/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-646-09/2023 (Mahkamah Tinggi)
Plaintiff proved entitlement to repayment under the Investment Agreements and the personal guarantees; the Investment Agreements are investment/deposit contracts not moneylending transactions under the Moneylenders Act 1951; the proposed scheme of arrangement had not been sanctioned by the court and therefore did not discharge the guarantors; accordingly judgment is entered for the plaintiff against the 2nd and 3rd defendants, and the counterclaim is dismissed.