15 Dec 2022
PEARL STREAMS SDN BHD BEVERLY HEIGHTS RESOURCES SDN BHD
- Citation
- BA-22NCvC-178-04/2018 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- BA-22NCvC-178-04/2018 (Mahkamah Tinggi)
The SPA and DMC were a sham transaction constituting a disguised moneylending arrangement; absent compliance with the Moneylenders Act and given illegality under Contracts Act s.24 the agreements are unenforceable, therefore Pearl Stream's claim fails; KVOC did not owe Pearl Stream a duty of care on the facts and negligence claim fails; counterclaims for fraud/conspiracy fail for lack of predominant intent to injure and/or proof of damage, but the court declares the SPA and DMC null and void as consequence of illegality.