21 Jan 2025
KMC PARTNERS BERHAD 1. ) VICTOR SAW SENG KEE (PENERIMA TSA LAND SDN BHD) 2. ) SABAH DEVELOPMENT BANK BERHAD 3. ) TSA LAND SDN BHD (DALAM PENERIMAAN) (DALAM PENGGULUNGAN)
- Citation
- BA-24NCC-140-11/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- BA-24NCC-140-11/2023 (Mahkamah Tinggi)
The originating summons was dismissed because KMC failed to establish locus standi or disclose material facts (including its settlement/termination of the 2006 SPA and undertaking to withdraw caveats), the debentures and registered charges in favor of Sabah Development Bank were validly created and registered and protected by indefeasibility principles, no fraud or statutory illegality was pleaded to justify interference with the bank's rights or the receiver's appointment, and the Court could not use its powers to rewrite contracts or set aside registered encumbrances absent proper grounds.