5 Aug 2020
YEOW GUANG CHENG (NRIC No.: 701114-05-5141) 1. TANG LEE HIOK (NRIC No.: 660510-10-6248) 2. LIM BOON KEONG (NRIC No.: 580711-10-5647) 3. TAN MEE LIAN (NRIC No.: 630211-10-6902) 4. LIM HIANG (NRIC No.: 630807-10-7172) 5. TAN KAH CHEN (BC/T/86
- Citation
- BA-22NCVC-423-07/2017 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- BA-22NCVC-423-07/2017 (Mahkamah Tinggi)
Court found on balance of probabilities that 1st-4th defendants carried on an unlicensed moneylending business disguised as a sale: payment of interest triggered s10OA presumption which defendants failed to rebut; SPA/Form14A/PA were sham and tainted by illegality and thus void; Transfer obtained by a void instrument rendered registered title defeasible under s340; defendants hold land as constructive trustees and must re-transfer, but plaintiff is not ordered to restitute the principal and counterclaim dismissed; 5th defendant implicated for assisting but civil relief limited to invalidation…