JUDGMENT

RK Nathan J:

Facts

The defendant bank sued the plaintiff for credit facilities granted to the plaintiff and subsequently obtained judgment in default on 15 May 1987 with interest and costs. Because of the plaintiff's non-payment the amount escalated to RM62,658.57 and the bank then filed a bankruptcy notice for the said sum and the plaintiff accepted personal service of the said bankruptcy notice. The bank then proceeded to file the creditor's petition on 6 September 1991 and the plaintiff again accepted personal service of the same. A receiving order and an adjudication order were made against the plaintiff on 5 July 1993 and he was thus adjudicated a bankrupt. The plaintiff then negotiated with the bank which agreed to accept RM60,000 in full settlement. The bank's solicitors then wrote to the plaintiff's solicitors a letter dated 1 October 1993. The final paragraph of the said letter reads as follows:

Our clients have confirmed that the above borrower has fully settled his account. We have instructions to consent to your application to annul the Receiving and Adjudicating Orders.

Kindly serve the necessary papers on us.

The plaintiff had, in his letter dated 30 Septemb