31 Jan 2023
SUNGEI WANG INVESTMENT LTD Lim Hui Seng
- Citation
- WA-22NCvC-41-01/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCvC-41-01/2019 (Mahkamah Tinggi)
Defendant materially and fundamentally breached the Agreement by failing to transfer the agreed shares, failing to appoint plaintiff's nominee to company boards and failing to procure necessary IPO due diligence and approvals; he became uncontactable and disabled performance in its entirety such that plaintiff lawfully terminated under s.40 Contracts Act 1950 and was entitled to recover monies paid. The RM2.8m cash advances were non-gratuitous benefits received by defendant and, together with the RM2m tranche, unjustly enriched him; equity imposes a constructive/resulting trust and restitutio…