JUDGMENT

Raja Azlan Shah J:

This is an application to dissolve the ex parte injunction dated 7 June 1968 granted by Gill J (as he then was) to the plaintiffs (a) restraining the first, second, third, forth and fifth defendants from parting with or disposing of any of their shares in the Oriental Bank of Malaya Berhad, the sixth defendant, (b) restraining the sixth defendant from registering the transfer of any of the said shares to any persons other than to the plaintiffs. The ex parte injunction was granted before the writ or the statement of claim or any proceedings was served on any of the defendants.

The first five defendants are currently the directors of the said bank. On 4 May 1968 they negotiated with the plaintiffs concerning the sale of their respective shares in the bank. The terms and conditions of the agreement are confirmed in a letter dated 5 May 1968 written by the plaintiffs' former solicitors to the defendants' former solicitors. The plaintiffs claim for specific performance of the agreement and a permanent injunction.

Mr Chelliah for the defendants drew my attention to the terms and conditions of the said agreement which he says are not capable of specific perf