PILECON REALTY SDN BHD vs PUBLIC BANK BERHAD & ORS

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2013 MarsdenLR 1230

FEDERAL COURT, PUTRAJAYA
PILECON REALTY SDN BHD – Appellant
Versus
PUBLIC BANK BERHAD & ORS – Respondent

Table of Content
1. interpretation of bankruptcy act sections. (Para 1 , 1 , 2 , 3)
2. details surrounding the loan and winding-up proceedings. (Para 4 , 5 , 6 , 7 , 8 , 9 , 10 , 11 , 12 , 13)
3. high court's ruling on interest after winding-up. (Para 14 , 15 , 16 , 17)
4. appellant's stance on creditor rights. (Para 18 , 19 , 20 , 21 , 22)
5. respondent's argument regarding interest entitlement. (Para 23 , 24 , 25 , 26 , 27 , 28)
6. court's analysis of the legislative intent and implications of s 8(2a). (Para 30)

[1] Public Bank Berhad ("the bank") obtained leave on 9 November 2011 to appeal to the Federal Court against the whole of the decision of the Court of Appeal dated 13 September 2011 on the following questions of law:

1. Whether the statutory right of a chargee under the National Land Code 1965 to rely on his security to obtain full satisfaction of the indebtedness owed to him, is restricted by s 8(2A) of the Bankruptcy Act 1967 where:

(i) such security is provided by a company which is later wound up under the provisions of the Companies Act 1965 ; and

(ii) the security was not realised within six months of the winding up order;

2. Does s 8(2A) of the Bankruptcy Act 1967 appl

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2013 MarsdenLR 1230

FEDERAL COURT, PUTRAJAYAPILECON REALTY SDN BHD – AppellantVersusPUBLIC BANK BERHAD & ORS – Respondent

Cases Referred (2)

FEDERAL COURT, PUTRAJAYA
PILECON REALTY SDN BHD – Appellant
Versus
PUBLIC BANK BERHAD & ORS – Respondent