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HIGH COURT MALAYA KUALA LUMPUR
MALAYSIA DEBT VENTURES BERHAD – Appellant
Versus
ALGAETECH INTERNATIONAL SDN BHD (IN RECEIVERSHIP) & ORS – Respondent
| Table of Content |
|---|
| 1. the plaintiff's claim is based on facility agreements and associated guarantees. (Para 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9) |
| 2. the defendants' claim of prematurity is unsupported by evidence. (Para 13 , 14 , 15 , 17 , 18 , 22) |
| 3. defendants did not establish duress regarding guarantee execution. (Para 28 , 30 , 35 , 41 , 42) |
| 4. the guarantees are supported by consideration as per contractual obligations. (Para 57 , 58 , 60) |
| 5. plaintiff's claim is upheld; counterclaims dismissed. (Para 86) |
A. Introduction
[1] The plaintiff is claiming outstanding sums pursuant to two facility agreements and guarantees entered into between the plaintiff and the respective defendants. The defendants in turn filed a counterclaim, seeking a declaration that the facility agreements are void.
[2] Since the commencement of this action, the 1st and 7th defendants were wound-up and the 3rd and 5th defendants were adjudicated bankrupt. As such, the trial proceeded only in respect of the 2nd, 4th and 6th defendants.
[3] I allowed the plaintiff's claim and dismissed the 2nd, 4th and 6th defendants' counterclaim, for the reasons set out below.
B. Background Facts
[4] The plaintiff gr
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