Malaysia Case Law: Decisions & Judgments | LexChat

Topic

Ta’widh (late payment compensation)

Legal area

Court

22 Sept 2021

HSBC AMANAH MALAYSIA BERHAD 1. ) ONYX ENGINEERING SDN BHD 2. ) MOHAMED ASHARI BIN ABAS 3. ) AHMAD NIDZAR BIN HAMZAH

Citation

WA-22M-32-02/2021 (Mahkamah Tinggi)
Court

High Court
Case number

WA-22M-32-02/2021 (Mahkamah Tinggi)

Plaintiff established the prima facie case and produced a conclusive Certificate of Indebtedness under the letters of offer; defendants failed to rebut by showing manifest error or producing contemporaneous evidence of non-utilisation and had made admissions of non-payment in contemporaneous correspondence, therefore no bona fide triable issue existed and summary judgment for the plaintiff was appropriate.
19 Nov 2020

PAN NORTHERN AIR SERVICES SDN. BHD. MAYBANK ISLAMIC BERHAD

Citation

W-02(MUA)(W)-2512-12/2018 (Mahkamah Rayuan)
Court

MUA
Case number

W-02(MUA)(W)-2512-12/2018 (Mahkamah Rayuan)

The court held that the Asset Sale Agreements expressly fixed Ta’widh at 1% per annum calculated on the balance sale price for defaults paid before maturity; the Bank could not unilaterally impose a higher IIMM/'r' rate absent contractual notice or an enabling contractual provision; the Borrower’s payment was expressly made WITHOUT PREJUDICE and subject to reservation of rights so it did not bar a later claim; limitation did not bar the claim because payment and reserved rights, moratorium and discovery/mistake principles postponed accrual; consequently the Bank was ordered to refund the exce…