18 Aug 2020
PRUDENTIAL CORPORATION HOLDINGS LIMITED & ORS DETIK RIA SDN. BHD. & ORS
- Citation
- WA-24NCC-479-09/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-479-09/2019 (Mahkamah Tinggi)
The CPOA, SCPOA and related memoranda were conditional contracts governed by express conditions precedent (including BNM approval), and therefore not illegal or void ab initio; once BNM approval was obtained the agreements became enforceable, the defendants having accepted substantial payments and acted consistently are estopped from denying the agreements, there was no operative mutual mistake, and the plaintiffs are entitled to the declaratory and injunctive reliefs sought (except indemnity costs claim).