20 Oct 2022
Tham Wooi Loon Shahul Hamid bin Mohd Ismail
- Citation
- BA-22NCvC-170-04/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- BA-22NCvC-170-04/2021 (Mahkamah Tinggi)
The court held the agreement was a hybrid transaction (loan with elements of business venture) rather than a moneylending agreement; the moratorium was lifted and REH sold shares such that the Defendant's repayment obligation crystallised; the Defendant, having control as REH director, failed to cause dividends to be declared and cannot rely on that failure to avoid repayment; the Moneylenders Act presumption was inapplicable or rebutted on the facts and terms; accordingly Plaintiff entitled to principal, contractual share of dividends, interest and costs.