Sabah Development Bank Berhad v Petron Oil (M) Sdn Bhd

02f-27-04-2018s Federal Court (Mahkamah Persekutuan) 22 April 2019 • 02(f)-27-04/2018(S)

Catchwords

Contract - assignment - absolute assignment - assignment of proceeds to bank as security - effect of absolute assignment - whether creditor’s claim based on trust prevail over absolute assignment - Civil Law Act s 4(3) Trust - Constructive trust - when constructive trust arise by operation of law - unconscionability issue - whether creditor’s claim based on trust prevail over absolute assignment - whether bank held monies in constructive trust for creditor

Practice Areas

Contract

Judges (5)

Ahmad bin Haji Maarop Coram Azahar bin Mohamed Coram Nallini Pathmanathan Coram Rhodzariah binti Bujang Coram Tengku Maimun binti Tuan Mat Delivered

Parties (2)

Petron Oil Sdn Bhd Respondent Sabah Development Bank Berhad Appellant

Case Significance

Sabah Development Bank Berhad v Petron Oil (M) Sdn Bhd is a Federal Court (Mahkamah Persekutuan) decision dated April 22, 2019 (citation: 02f-27-04-2018s). The panel comprised Ahmad bin Haji Maarop, Azahar bin Mohamed, Nallini Pathmanathan, Rhodzariah binti Bujang and Tengku Maimun binti Tuan Mat, with Tengku Maimun binti Tuan Mat delivering the judgment.

What was the outcome of Sabah Development Bank Berhad v Petron Oil (M) Sdn Bhd?

Sabah Development Bank Berhad v Petron Oil (M) Sdn Bhd is a Federal Court decision dated April 22, 2019. The case was heard by Ahmad bin Haji Maarop. See the full judgment for details.