Harun Hashim SCJ:

Chandan Daya Sdn. Bhd., a housing developer, is the registered owner of land Lot 55 Section 95 held under CT 11533 Bandar Kuala Lumpur. In 1981, Chandan Jaya obtained a loan of RM2.2. million from Keng Soon Finance Bhd. and charged the land to the latter as security for the loan on 28 November 1981 which was registered on 19 April 1982. Chandan Jaya then constructed a building on the land consisting of 16 units of apartments.

In 1984 Chandan Jaya sold the units to several purchasers who each executed a sale and purchase agreement with Chandan Jaya. James Edward Buxton and Elizabeth Buxton jointly purchased Apartment 2A on 26 June 1984 and Elsa Constance Radcliffe purchased Apartment 2B on 30 August 1984. Four other purchasers obtained end-financing from Supreme Finance Bhd. (who by then had succeeded Keng Soon Finance Bhd.), in respect of the purchases of Apartments 5A, 5B, 8A & 8B. James Edward Buxton (the 1st Appellant) applied for a similar loan from Supreme Finance but was turned down. He assigned his rights in Apartment 2A to Peggy Mavis Moreira nee Leembruggen (the 2nd appellant). Radcliffe has since died and the 1st appellant is the executor of the