22 Sept 2022
MALAYSIA DEBT VENTURES BERHAD 1. ) ALGAETECH INTERNATIONAL SDN BHD 2. ) DATO' PADUKA SYED ISA BIN SYED ALWI 3. ) ASMADI BIN MD. SAID 4. ) ABDUL HAFIZ MAHMOOD BIN HISHAM 5. ) SHEEZRIFAH BINTI ISHAK 6. ) BOBBY RONALD 7. ) LM GREENTECH SDN BHD
- Citation
- WA-22M-688-09/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22M-688-09/2019 (Mahkamah Tinggi)
The court held that the plaintiff proved entitlement to recover under the Guarantees: the guarantors failed to establish duress or undue influence, consideration existed linked to the grant of Facilities, profit rates were accepted and not shown to be excessive, the appointment of a receiver was not mala fide, and the plaintiff had capacity to provide Shariah financing; accordingly the counterclaim was dismissed and judgment entered for the plaintiff against the 2nd, 4th and 6th defendants with costs awarded as specified.