27 Jun 2024
WAN LOY CHYE 1. ) CHUA AH SANG 2. ) CHIA YIK FENG
- Citation
- JA-A52NCvC-19-01/2021 (Mahkamah Sesyen)
- Court
- Sessions Court
- Case number
- JA-A52NCvC-19-01/2021 (Mahkamah Sesyen)
The SPA was held to be a sham that masked an unlicensed moneylending transaction; therefore the agreement is void and unenforceable under Moneylenders Act 1951 and Contracts Act 1950; plaintiff, being an unlicensed moneylender, is not entitled to restitution of the deposit or agreed damages; further the suit is barred by cause of action estoppel because identical issues and reliefs were finally determined by the High Court — accordingly plaintiff's action is dismissed and defendants' counterclaim for declaration of abuse of process is allowed.