OSK CAPITAL SDN. BHD. v BUMI RIA DEVELOPMENT SDN. BHD.

ba-24fc-811-08-2024 High Court (Mahkamah Tinggi) 22 January 2025 • BA-24FC-811-08/2024

Catchwords

This case arises from a clash of claims over a piece of charged land, a moneylending agreement, and the legal boundaries of enforcement pursuant to section 256 of the National Land Code. The Plaintiff, invoking its rights under a registered charge, seeks an Order for Sale and other consequential reliefs against the Defendant’s land. The Defendant, while conceding to the execution of a Moneylending Agreement on 27 September 2021 for a credit facility of RM3,000,000.00 between the Plaintiff and the borrower and the subsequent registration of the third-party charge, mounts a vigorous challenge. Central to this dispute is the Defendant’s assertion that the Moneylending Agreement is fraught with fundamental issues – issues so critical that the Defendant asserts as purportedly constituting a “cause to the contrary” within the meaning of section 256(3) of the National Land Code. This application, therefore, rests on a delicate intersection of fact and law, warranting careful judicial scrutiny.

Practice Areas

This case arises from a clash of claims over a piece of charged land, a moneylending agreement, and the legal boundaries of enforcement pursuant to section 256 of the National Land Code. The Plaintiff, invoking its rights under a registered charge, seeks an Order for Sale and other consequential reliefs against the Defendant’s land. The Defendant, while conceding to the execution of a Moneylending Agreement on 27 September 2021 for a credit facility of RM3,000,000.00 between the Plaintiff and the borrower and the subsequent registration of the third-party charge, mounts a vigorous challenge. Central to this dispute is the Defendant’s assertion that the Moneylending Agreement is fraught with fundamental issues

Judges (1)

Choong Yeow Choy Delivered

Parties (2)

BUMI RIA DEVELOPMENT Sdn Bhd Respondent OSK CAPITAL Sdn Bhd Applicant

Case Significance

OSK CAPITAL SDN. BHD. v BUMI RIA DEVELOPMENT SDN. BHD. is a High Court (Mahkamah Tinggi) decision dated January 22, 2025 (citation: ba-24fc-811-08-2024). The case was decided by Choong Yeow Choy.

What was the outcome of OSK CAPITAL SDN. BHD. v BUMI RIA DEVELOPMENT SDN. BHD.?

OSK CAPITAL SDN. BHD. v BUMI RIA DEVELOPMENT SDN. BHD. is a High Court decision dated January 22, 2025. The case was heard by Choong Yeow Choy. See the full judgment for details.