BANK PERTANIAN MALAYSIA BERHAD

On the court record

Illustrates how the courts apply the foreclosure, bankruptcy and judicial-management regimes to the recovery of agricultural financing, and how a secured creditor's interest is protected in intervention, insolvency and restructuring.

Bank Pertanian Malaysia Berhad (Agrobank) appears in this corpus as an agricultural development financier, in roles including respondent, plaintiff, judgment creditor and aggrieved party, with matters decided in the High Court and reaching the Court of Appeal and the Federal Court. A notable appellate matter concerns estate land and the illegality of contracts, engaging the enforceability of an arrangement connected with the ownership or dealing in estate land. In the trial court the corpus spans recovery and security enforcement: foreclosure proceedings in which the bank or another party applies for leave to intervene under Order 15 rule 6 of the Rules of Court 2012 to protect an interest in the charged property, bankruptcy proceedings in which a bankruptcy notice and a creditor's petition are challenged on appeal to a judge in chambers, and applications to set aside a default judgment (penghakiman ingkar — default judgment). The corpus also engages corporate rescue, including judicial management under the Companies Act 2016 (in the record, Akta 777, section 405) and the going-concern considerations that bear on whether a company should be wound up or restructured, where the bank appears as an aggrieved secured creditor. Because Agrobank appears both as the party enforcing its financing and security and as a party or interested creditor in insolvency and restructuring, the decisions reflect the several capacities of a development lender to the agricultural sector. The matters are decided in the High Court, the Court of Appeal and the Federal Court. Collectively the decisions in which Agrobank is a party illustrate how the courts apply the foreclosure, bankruptcy and judicial-management regimes to the recovery of agricultural financing, and how a secured creditor's interest is protected in intervention, insolvency and restructuring. Several of the reported matters also concern the going-concern considerations that bear on whether a company should be wound up or placed under judicial management and the protection of a secured creditor's position in that choice, together with the conditions on which leave to intervene in a foreclosure will be granted. Across these decisions the bank appears in the several capacities a development lender occupies in recovery, insolvency and restructuring.