2011 MarsdenLR 4365
HASNAH MOHAMMED HASHIM
SURUHANJAYA SEKURITI – Appellant
Versus
LOW THIAM HOCK – Respondent
Adequate particulars provided for trial preparation; additional particulars not obligatory unless warranted by discretionary court assessment.
Headnote:(A) Securities Industry Act - Sections 84, 85, and 87A - Application for particulars in the Statement of Claim regarding allegations of market rigging and manipulation - High Court held that adequate particulars had been provided to enable the Defendant to prepare for trial, affirming principles of trial preparation and preventing surprise. (Paras 1, 2, 4, and 42)
(B) Particulars - Function of particulars - Aimed at informing the other party about the nature of the case and limiting the scope of evidence; Not obligatory for every request, discretionary upon the Court. (Paras 12, 18)
(C)
Findings of Court:
The materials provided were deemed adequate for trial preparation without requiring further particulars.
(D)
Issues: Whether the particulars requested were necessary and whether they had been sufficiently provided. (E)
Ratio Decidendi: The court concluded that the detailed Statement of Claim and documents provided sufficed for the Defendant to know the case against him, thereby dismissing the request for further particulars. (F)
Result: Application dismissed with cost.
| Table of Content |
|---|
| 1. defendant's application for particulars. (Para 1 , 2) |
| 2. details of allegations against the defendant. (Para 3 , 4 , 5 , 6) |
Enclosure 40 is the application of the 10th Defendant for the following:
1. that the Plaintiff do serve on the 10th Defendant within 14 days from the date of the Order particulars in writing of the Statement of Claim herein, stating:
(a) Under paragraph 5:
Of the allegation that "to the knowledge of SC, all market/investment information obtained from Aeneas offices in London, Mumbai and Hong Kong, including information from Europe and East Asia, would be channeled to Grossman".
(i) Identify the source of the said knowledge;
(ii) If the source is oral, identify the person(s) who provided the said information;
(iii) If the source is documentary, identify the document or documents relief upon;
(iv) If the source is partly oral and partly documentary, identify which parts are oral, which parts are documentary and identify the person(s) who provided the said information or document(s) relied upon.
Of the allegation that "Grossman would issue instructions to Aeneas offices and investment traders to execute the trades."
(v) Identify the source of the said knowledge;
(vi) If the source is oral, identify the person(s) who provided the said information;
(vii) If the source is documentary, identify the document or documents relied upon;
(viii) If the source is partly oral and partly documentary, identify which parts are oral, which parts are documentary and identify the person(s) who provided the said information or document(s) relied upon;
(ix) Identify to whom the instructions were alleged to have been given by Grossman, and by what method, orally or in writing.
(b) Under paragraph 13:
Of the allegation that "to the knowledge of the SC, Low was the investment advisor of Acadian in Malaysia and worked with Cohen in the execution of trade by Priam.",
(i) Identify the source of SCs said alleged knowledge that Low was the investment advisor of Acadian in Malaysia;
(ii) Identify the source of SCs said alleged knowledge that Low worked with Cohen in the execution of trade by Priam;
(iii) If the source is oral, identify the person(s) who provided the said information;
(iv) If the source is documentary, identify the document or documents relied upon;
(v) If the source is partly oral and partly documentary, identify which parts are oral, which parts are documentary and identify the person(s) who provided the said information or document(s) relied upon.
(c) Under paragraph 27(iii):
Of the allegation that "Acadian and/or Tan and/or Low make the investment decisions for Priam."
(i) Identify which investment decisions are alleged to have been made by Low for Priam.
(d) Under paragraph 29:
Of the allegation "that each of the Defendants mentioned therein acted or held themselves out as investment advisors or investment representatives of investment advisors."
(i) Identify which of the Defendants acted as investment advisors;
(ii) Identify which of the Defendants held themselves out to be investment advisors;
(iii) Identify which of the Defendants acted as investment representatives of investment advisors;
Of the allegation that "the 10th Defendant was required to possess a license when engaged in the conduct described in paragraphs 23 to 28 above."
(iv) Identify what are the act of Low for which is alleged he required a license.
(e) Under paragraph 30:
Of the allegation that "the Securities Commission will rely upon the terms and conditions of the Investment Management Agreements and upon the alleged representations."
(i) Identify the specific terms and conditions contained in the Investment Management Agreements intended to be relied upon against Low;
(ii) Identify the representations intended to be relied upon against Low and state to whom and by whom each representation was alleged to have been made;
(iii) Further state whether the said representations were oral or in writing;
(iv) If in w