22 Jul 2021
Vinod Nurlhaq bin Nair Ong Woei Luen Kenneth Teh Wei Jian Chan Yin Leng Chin Kew Hing Loo Mei Oi Chuah Chee Lian Tay Chun Moh Yap Lee Shiuan
- Citation
- BA-12A-40-04/2021 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- BA-12A-40-04/2021 (Mahkamah Tinggi)
No triable issue existed: the investment agreements were signed by the defendants and admissible despite being unstamped; even if the schemes were unlawful for lack of Securities Commission licence the contractual promise to return investment principals is enforceable under ss 58/59/66 of the Contracts Act 1950; alternatively the defendants disabled performance and plaintiffs were entitled to compensation for termination/frustration; involvement of a third party did not absolve defendants of contractual liability; accordingly summary judgment was properly entered for plaintiffs and appeal dis…