1. ) NG SIEW HAN 2. ) LIM POOI CHENG v 1. ) NOOR AISHAH BINTI ISMAIL 2. ) GHAZALI BIN ISMAIL
Catchwords
In this action, the plaintiffs are seeking declarations and consequential reliefs to the effect that 90,000 shares in the company known as Muara Emas Sdn Bhd ("the company"), which are currently being held by the first and second defendants in the total number of 60,000 and 30,000 shares respectively, are held on trust by the defendants on behalf of the plaintiffs. On the other hand, the defendants claim that the Trust Deeds between the plaintiffs and the defendants, which allegedly prove the defendants are holding the plaintiffs' shares in trust, are invalid. The defendants had never agreed to the Trust Deeds, let alone signed them. As a result, the defendants claim their signatures were forged. To the defendants, this proves only one thing: the shares are theirs legally. The court finds that there is clear evidence that can be derived from the undisputed facts that there is sufficient evidence that the defendants intended to expressly create a trust to protect the plaintiffs' interests. These Trust Deeds clearly reveal that, amongst others, the defendants are holding those shares solely and exclusively for the plaintiffs' benefit. In light of the above, the plaintiffs' claim has been allowed with costs, subject to allocatur.
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Judgment
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Read on eJudgmentSource: eJudgment (wa-22ncvc-858-11-2019)