JUDGMENT

Vincent Ng J:

Preamble

[1]. Enclosure 1 is the plaintiffs' application for, inter alia , an order for sale of shares subject to two charging orders absolute dated 8 February 2001 and 10 August 2001 respectively and that the proceeds arising therefrom be utilised towards satisfaction of two judgment debts due and owing by the defendant.

Background

[2]. In order to fully appreciate the circumstances that led to this application, it is necessary to review the history of these proceedings. Briefly it is as follows.

[3].Vide Civil Suit No: D1-22-1438-99, the plaintiffs obtained two summary judgments against the defendant dated 23 March 2000 and 16 June 2000 respectively for a total sum of RM4,000,000 (the judgments).

[4]. It is noteworthy that defendant did not appeal against the judgments so entered against him nor did he seek to stay the same.

[5]. In an attempt to execute the judgments, the plaintiffs took out an application for charging orders in respect of 2,660,002 shares in Biografik (M) Sdn Bhd (Biografik shares) and 100,001 shares in Inalap International Sdn Bhd (Inalap shares). At all material times, the shares were registered under the defendant's name.

[6]. A consen