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Malaysian Legal Cases |
BANKING
Securities for advances - Security valued much higher than actual value in valuation report - Valuation report commissioned by third party and not by bank or borrower - Whether bank could claim pure economic loss
The Co-operative Central Bank Ltd v. KGV & Associates Sdn Bhd
(Alauddin Mohd Sheriff CJ (Malaya), Arifin Zakaria & Hashim Yusoff FCJJ) [2008] 2 CLJ 545 [FC]
CONTRACT
Deposit/earnest money - Forfeiture - Termination of joint venture agreement to develop land in consideration of RM15 million as security deposit - Sum of RM200,00 paid - Whether deposit or part payment - Whether vendor entitled to 10% of security deposit less RM200,000 paid
Invescor Sdn Bhd v. Sobena Maju Sdn Bhd
(Mokhtar Sidin, James Foong & Zainun Ali JJCA) [2008] 2 CLJ 561 [CA]
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CASE OF THE WEEK
THE CO-OPERATIVE CENTRAL BANK LTD v. KGV & ASSOCIATES SDN BHD
FEDERAL COURT, PUTRAJAYA
ALAUDDIN MOHD SHERIFF CJ (MALAYA), ARIFIN ZAKARIA FCJ, HASHIM YUSOFF FCJ
Securities for advances - Security valued much higher than actual value in valuation report - Whether bank could claim pure economic loss
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Industrial Law Resources
(Courtesy of Industrial Court)
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