17 Sept 2024
EMPIRE HOLDINGS LTD 1. ) ITHMAAR DEVELOPMENT COMPANY LTD 2. ) ITHMAAR BANK B.S.C. 3. ) MAA GROUP BERHAD 4. ) TUNKU DATO' YAACOB KHYRA 5. ) TURIYA BERHAD
- Citation
- W-02(IM)(NCC)-441-03/2022 (Mahkamah Rayuan)
- Court
- IM
- Case number
- W-02(IM)(NCC)-441-03/2022 (Mahkamah Rayuan)
Appellant failed to discharge the evidential and legal burden: key witness absence and lack of expert valuation meant no case of undervalue; the 2nd Defendant lawfully exercised custodial/enforcement rights under the Share Charge and Custodian Agreement; Bursa rules compliance and Securities Commission findings defeated statutory securities claims; prior interlocutory rulings and appeal outcomes raised res judicata; accordingly there was no basis to disturb the High Court judgment and both appeals were dismissed with costs.