24 Dec 2021
KENANGA INVESTMENT BANK BERHAD [No. Syarikat: 197301002193 (15678-H)] SYED MUDZAFFAR BIN SYED ZAINUL ABIDIN (No. K/P: 730719-05-5323/A2488988)
- Citation
- WA-B52NCC-419-08/2020 (Mahkamah Sesyen)
- Court
- Sessions Court
- Case number
- WA-B52NCC-419-08/2020 (Mahkamah Sesyen)
On the face of the pleadings the counterclaim was obviously unsustainable: the defendant was bound by the plaintiff's clear T&C which authorised sale of securities, set-off and suspension of accounts upon default; the defendant failed to plead or prove negligence or causation and his losses resulted from his own commercial decisions; accordingly the counterclaim disclosed no reasonable cause of action and was frivolous, vexatious and an abuse of process and must be struck out under O.18 r.19.