26 Apr 2021
UNITED OVERSEAS BANK LIMITED (Company Registration No: 193500026Z 1. UNITED SECURITIES SDN BHD (In Liquidation) dan 6 lagi
- Citation
- W-02(IM)(NCC)-1541-10/2020 (Mahkamah Rayuan)
- Court
- IM
- Case number
- W-02(IM)(NCC)-1541-10/2020 (Mahkamah Rayuan)
Clause 25 of the Loan Agreement, read purposively and in context (choice of Singapore law; submission to Singapore jurisdiction; appointment of Singapore process agent; waiver of objection to venue; and reservation of right for bank to sue elsewhere), operated as an exclusive jurisdiction clause binding USSB to Singapore. USSB failed to discharge the burden of showing strong reasons to depart from that contractual obligation. UOB had not unequivocally submitted to Malaysian jurisdiction via UOB Nominees. Therefore the Malaysian proceedings were stayed pending final disposal of the Singapore o…