5 Oct 2023
FARA SHARINA BINTI ZAMARI 1. ) RHB BANK BERHAD 2. ) MUHAMMAD AIMAN BIN MOHAMED
- Citation
- DA-22NCvC-3-01/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- DA-22NCvC-3-01/2019 (Mahkamah Tinggi)
Court found plaintiff had defaulted on loan obligations but bank breached its contractual duty to act in good faith under Clause 12.15 by continuing serial auctions that reduced the reserve price by 10% each time without adequate reassessment, resulting in a sale at an undervalue; therefore the declaration of sale and the auction of 3.4.2017 were void, plaintiff retains beneficial ownership, and purchaser's acquisition is invalid for that reason; bank ordered to refund amounts received and pay remedies awarded.