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2019 MarsdenLR 2215
HIGH COURT SABAH & SARAWAK SANDAKAN
RHB BANK BERHAD – Appellant
Versus
YUNG CHEN WOOD INDUSTRY SDN BHD & ORS – Respondent
[Suit No: SDK-22NCVC-31/11-2015]
A stay of execution requires demonstration of special circumstances; mere merits of appeal are insufficient.
Headnote:The plaintiff's claim against the defendants was for a significant sum plus interest under a Term Loan Facility. The ruling favored the plaintiff, leading to an appeal from the defendants. The court held that a stay of execution requires showing special circumstances, which the defendants failed to do, relying on established case law. The application for stay was dismissed.
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| 1. plaintiff claimed balance and interest in loan. (Para 1 , 2) |
[1] The plaintiff had claimed against the 1st to 5th defendants jointly and severally for the sum of RM5,681,375.59 as at 31 August 2015 with interest at 3.5% per annum above the Plaintiff's Base Lending rate (hereinafter referred to as "BLR") and costs, being the balance and interests owed to the plaintiff under a Term Loan Facility due from the 1st defendant as principal borrower, and due from the 2nd to 5th defendants as guarantors for the 1st defendant.
[2] After a full trial the court subsequently delivered its ruling in favour of the plaintiff on 13 October 2017 and ordered that the defendants to pay the plaintiff the said sum, interest at 3.5% per annum above the plaintiff's BLR at 6.85% from 01 September 2015 till the date of full payment and cost of RM30,000.00 to the plaintiff.
