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HIGH COURT MALAYA KUALA LUMPUR
MAA CREDIT BERHAD – Appellant
Versus
BEST BIRDSNEST SDN BHD & ORS – Respondent
| Table of Content |
|---|
| 1. loan agreement and default facts (Para 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10 , 11 , 12) |
| 2. defendants' stay application and grounds (Para 13 , 14) |
| 3. plaintiff's opposition to stay (Para 15) |
| 4. legal standards for granting stay (Para 16 , 17 , 18 , 19 , 20 , 21 , 22 , 23) |
| 5. conditions for granting a conditional stay (Para 24 , 25) |
| 6. balancing parties' interests (Para 26 , 27 , 28) |
[1] This was 3 applications by the 1st, 2nd and 3rd Defendants ("Defendants") respectively for stay of execution of the Judgment and Order dated 8 December 2023 pending their appeals to the Court of Appeal (collectively "the Applications").
[2] considering the submissions of all parties and the applicable legal principles, I allowed a conditional stay. My reasons are as state below.
[A] Salient Background Facts
[3] The salient facts leading to the Applications are as stated below.
[4] The Plaintiff granted a loan of RM24,500,000.00 to the 1st Defendant pursuant to a Moneylending Agreement dated 13 July 2021 ("the Agreement").
[5] The 2nd, 3rd and 4th Defendants executed guarantees to secure repayment of the loan.
[6] Third party charges were provided by Alam Pahlawan Sdn Bh
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