8 Dec 2023
1. ) MULIAR OLEG 2. ) LI XUEYONG PEMUNYA DAN/ATAU PIHAK-PIHAK YANG MEMPUNYAI MILIKAN ATAU KAWALAN TERHADAP KAPAL ORIENTAL DRAGON DI PELABUHAN PENAMA PENCELAH 1. ) BRIT UW LIMITED 2. ) LAVENHAM UNDERWRITING LIMITED 3. ) ASIA CAPITAL COMMODIT
- Citation
- WA-27NCC-11-02/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-27NCC-11-02/2021 (Mahkamah Tinggi)
The court held that for competing claims in foreign currencies against a limited fund denominated in Ringgit Malaysia and where claimants are ranked in priority, a single, common conversion date must be fixed to protect equality of treatment; accordingly the operative conversion date for most foreign currency claims ordered to be paid out of the Fund is the date of the Order of Priorities and Payment Out (20.3.2023), except where the Order expressly fixed conversion to the Writ dates for Suit 11 (9.2.2021) and Suit 21 (20.4.2021); the court also held it had jurisdiction to grant consequential…