VC George J

The plaintiffs as chargees of the land known as lot no 9525 in the township of Johore Bahru held under grant no 23537 took out foreclosure proceedings and on 10 March 1986, the court granted a consent order giving the defendant chargor until 10 April 1986 to make certain payments failing which the said consent order provided that the plaintiffs as chargees were at liberty to proceed to have the said land sold for the recovery of some $213,384.66, being the amount outstanding secured by the charge due and payable as on 10 March 1986 by the defendant to the plaintiffs. The defendant failed to make the payment and on 15 June 1986 directions for the sale of the land were given by the learned senior assistant registrar by her order of 15 June 1986 which, inter alia, prescribed the conditions of sale. Condition 5 provided that the highest bidder at the auction shall be the successful purchaser. Condition 6 provided that the purchaser shall immediately after successfully bidding for the land pay a deposit of 25% of the amount of the purchase price to the senior assistant registrar. Condition 7 was as follows:

The purchase shall be completed at the Registry, High Court, Johore