Prismaworld Embassyview Sdn Bhd v 1. ) Tanah Bayumas Sdn Bhd 2. ) Adam Primus Varghese Bin Abdullah Daripada Adamprimus & Co, Plt (Sebagai Penerima Dan Pengurus Prismaworld Embassyview Sdn Bhd) Macpherson Simon Daripada Adamprimus & Co, Plt (Sebagai Penerima Dan Pengurus Prismaworld Embassyview Sdn Bhd) 830308136071 3. ) RHB Bank Berhad

wa-22ncc-142-03-2025 High Court (Mahkamah Tinggi) 21 September 2025 • WA-22NCC-142-03/2025

Catchwords

Striking - Out Order 18 rule 19 of the Rules of Court. Receivers and Managers - Duties and agency status during a sale - Misconduct - Did the Receivers or the Bank (3rd Defendant) commit misconduct in the sale process based on established case law Judicial Management - Impact of a judicial management application on existing sale agreements. Section 410 Companies Act - Alleged breach regarding the disposal of property - Whether the agreement between the Receivers (2nd Defendant) and the purchaser (1st Defendant) is enforceable given the pending Judicial Management Application - If the SPA is invalid, is the Plaintiff entitled to damages under Section 410 of the Companies Act? Locus Standi - The plaintiff's legal standing to challenge a Sale and Purchase Agreement (SPA) - Does the Plaintiff have the locus standi to challenge the validity of the SPA? Conspiracy - Allegation of defendants conspiring to sell property at an undervalue - Did the Defendants conspire to force a sale at an undervalue to cause damage to the Plaintiff? Right of Redemption - The mortgagor's right to redeem property via private sale - Did the Bank's actions cause the Plaintiff to lose its legal right to redeem the property? Injunctive Relief - Refusal of an injunction where damages are considered an adequate remedy. Vicarious Liability/Agency - Are the Receivers' actions attributable to the Bank, considering their status as agents of the company versus the Plaintiff's attempt to redeem via a higher-priced private sale?

Practice Areas

Civil Procedure Bankruptcy & Insolvency Contract Tort

Judges (1)

Mohd Arief Emran bin Arifin Delivered

Parties (4)

Prismaworld Embassyview Sdn Bhd Plaintiff RHB BANK BERHAD Defendant Tanah Bayumas Sdn Bhd Defendant Adam Primus Varghese bin Abdullah Daripada Adamprimus & Co, Plt Macpherson Simon Daripada Adamprimus & Co, Plt 830308136071 Defendant

Judgment

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Source: eJudgment (wa-22ncc-142-03-2025)