JUDGMENTBY: JAMES FOONG J

JAMES FOONG J The plaintiff in this case is applying to set aside two caveats lodged against a piece of property held under HS(M) 4839 for Lot 11337 Mukim of Empang, Daerah Ulu Langat, Selangor (hereinafter referred to as the said land). The first caveat is a registrars caveat placed on the said land at the request of the first defendants on the ground that the registered owner of the said land (the registered owner) is an adjudicated bankrupt. The second caveat placed by the second defendant is a private caveat based on the reason that the registered owner has entered into a sale and purchace agreement with the second defendant for the sale of the said land to the second defendant.

The plaintiff, on the other hand, is a successful bidder in a public auction conducted by the land administrator pursuant to foreclosure proceedings instituted by the chargee of the said land -- Standard Chartered Bank Malaysia Bhd (the bank). The plaintiff had paid a sum equivalent to 10% of the purchase price on 22 September 1994 to the land administrator with the balance of 90% to be paid within three months from that date. In order to finance this purchase, the plaintiff