24 Jun 2020
TMF TRUSTEES MALAYSIA BERHAD 1. ) MAJU EXPRESSWAY SDN. BHD. 2. ) BRIGHT FOCUS BERHAD 3. ) MAJU HOLDINGS SDN BHD
- Citation
- WA-24M-14-07/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24M-14-07/2019 (Mahkamah Tinggi)
Although the 1st Defendant breached the Letter of Undertaking by advancing RM97,770,000 to the 3rd Defendant, the Plaintiff's remedy as assignee is contractual (and includes indemnity under the Letter) and the Plaintiff lacked a proprietary interest in the funds; therefore the Plaintiff had no locus standi under s.41 to obtain the equitable declarations sought and the Originating Summons must be dismissed; consequently no restitutionary order can be made.