25 Sept 2020
PRINCIPAL ASSET MANAGEMENT BERHAD (formerly known as CIMB PRINCIPAL ASSET MANAGEMENT BERHAD) (Company No.: 304078-K) DATO’ AHMAD AZWAN BIN ABOO MANSOOR (NRIC No.: 701209-07-5049)
- Citation
- WA-22NCC-302-06/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-302-06/2019 (Mahkamah Tinggi)
Defendant breached express agency agreements, industry guidelines and fiduciary duties by making unauthorised, false and misleading representations and entering the purported agreement; under section 173 Contracts Act and established authority an agent guilty of such misconduct forfeits entitlement to remuneration for that business and must disgorge commissions (ordered RM5,975,368.03), is liable to indemnify the principal for losses and liabilities arising from the misconduct, and the defendant's counterclaim for trailer commission is dismissed for failure to meet contractual sales condition…