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2016 MarsdenLR 2167

COURT OF APPEAL PUTRAJAYA
QUAH LEY BENG & ANOR – Appellant
Versus
KENANGA INVESTMENT BANK BERHAD & ANOR – Respondent


Table of Content
1. appeal commenced regarding ownership of margin account funds. (Para 1 , 2 , 3)
2. description of the defenses and counterclaims presented by the second respondent. (Para 5 , 6)
3. monies in margin accounts owned by the second respondent. (Para 20 , 21)
4. concluding decisions affirming the beneficial ownership of the second respondent. (Para 22)

[1] The appeal concerns a claim which was initially commenced by the appellants against the first respondent by originating summons dated 30 March 2012 but was subsequently ordered by the learned trial Judge on 3 August 2012 to be converted to a writ of summons. On 17 August 2012 a statement of claim was filed which was nevertheless amended twice. In the meantime, the second respondent sought and obtained leave of the High COURT to be joined as a defendant to the appellant's claim. He filed a defence and counterclaim. After eight days of trial, the learned trial Judge dismissed the appellant's claim and allowed the second respondent's counterclaim. The appellants appealed to this COURT against the said decision.

The Appellants' Claim

[2] The first and second appellants were account holders of Share Trading Margin Accounts beari

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