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2008 MarsdenLR 3797 ; 2008 MarsdenLR 1

MOHD GHAZALI MOHD YUSOFF
TAY CHOO FOO @ TAY CHIEW FOO – Appellant
Versus
TENGKU MOHD SAAD @ TENGKU ARIFAAD TENGKU MANSUR & 3 ORS & ANOTHER CASES – Respondent


60. As to whether the 1st first defendant has paid the sum of RM1.2 million for the said shares to the deceased, the learned judge found as follows:-

"It is my finding that it is an undisputed fact that the first defendant never paid any money to the late Tunku Mansur for the said 1.2 million shares. In his defence, the first defendant pleaded that the shares to be given or acquired by the late Tunku Mansur personally in the MBO were to be divided equally between the first defendant and the late Tunku Mansur as the first defendant has agreed to pay for any acquisition price in excess of RM55 million. In support of this contention Exhibit D59 was introduced in evidence by the first defendant during the cross-examination of PW1. However, in his witness statement (DWS1), the first defendant took a different position and claimed that the late Tunku Mansur and him would share "whatever money" (as opposed to shares) that they get from BRUG and therefore the issue of him having to pay for the said 1.2 million shares never arise."

61. In relation to the issue as to whether the beneficial ownership of the said shares shall remain with, and vest with the deceased until the 1st defendant pays

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