26 Jul 2021
1. ) 1. CHONG SING LENG [NRIC NO: 580305-08-5345] 2. ) 2. MUN CHOOI PENG (P) [NRIC NO: 621118-10-7578] 1. ) 1. LIQUIDATOR ON BEHALF OF JUTA VILA (M) SDN BHD [Company No. 229400-W (under winding up)] 2. ) 2. LEE WAN LUNG [NRIC NO: 730920-07-
- Citation
- AA-24NCVC-131-03/2016 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- AA-24NCVC-131-03/2016 (Mahkamah Tinggi)
Even if Public Bank held an equitable interest by assignment, that interest was in substance a security/mortgage which Public Bank failed to enforce within the statutory and equitable period; repeated notices of the plaintiffs' claim from 2003 and long failure to act (including failure to disclose or value security in insolvency proceedings and inaction for some 17 years) meant Public Bank's claim was barred by limitation, laches and acquiescence; the DGI's conduct waived any service irregularity and retrospective sanction was appropriate, so the application to set aside the 2016 Order was di…