21 Feb 2020
SCOMI GROUP BHD (Company No.: 571212-A) 1. GELOMBANG GLOBAL SDN BHD (Company No.: 1096201-U) 2. MALAYSIAN TRUSTEE BERHAD (Company No.: 21666-V)
- Citation
- WA-22NCC-74-02/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-74-02/2020 (Mahkamah Tinggi)
The ex parte/inter partes applications were dismissed because the plaintiff failed to show a bona fide serious issue: clause 7 of the loan agreements constituted an express admission/estoppel that the lenders were not moneylenders, there was no evidence defendants carried on moneylending business, and the advances were commercial shareholder support; additionally the plaintiff had acted without bona fide and with unclean hands (publicly acknowledged the debts to Bursa while secretly seeking injunctions), damages were an adequate remedy calculable for traded shares, and the balance of convenie…