23 Apr 2025
TRENERGY INFRASTRUCTURE SDN BHD HONG LEONG BANK BERHAD
- Citation
- WA-24NCC-425-09/2024 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-425-09/2024 (Mahkamah Tinggi)
The bank's unilateral cancellation of the facilities on 5.3.2024 terminated the Facilities Agreement in its operative purpose and discharged future obligations; Section 16.04 is a substantive security provision tied to the ongoing financing relationship and does not survive that cancellation in these facts, therefore the bank may not lawfully consolidate or set off the Plaintiff's monies to satisfy unrelated liabilities of a security party and the Plaintiff is entitled to the monies and an accounting.