20 Nov 2023
PESTECH TECHNOLOGY SDN BHD 1. ) MAYBANK ISLAMIC BERHAD 2. ) SYARIKAT PEMBENAAN YEOH TIONG LAY SDN BHD
- Citation
- WA-24C-92-06/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24C-92-06/2023 (Mahkamah Tinggi)
The Court refused to grant an injunction because the plaintiff failed to establish the high threshold for fraud or unconscionability: the Performance Bond is an unconditional on‑demand guarantee, the demand by D2 was prima facie made in accordance with the bond and termination cited, the disputes are essentially contractual and properly for arbitration, and there was insufficient cogent evidence of fraud/unconscionability or over‑securitisation to justify restraining payment or receipt; accordingly the originating summons was dismissed with costs.