JUDGMENT

Abdul Malek Ahmad FCJ:

On 15 October 1987, the appellant had obtained summary judgment against the respondent for RM95,864.93 on the overdraft account together with interest at fifteen percent per annum thereon with monthly rests from 1 April 1986 until full realisation, and for RM66,051.74 on the overdue trust receipt account together with interest at sixteen percent per annum thereon until full settlement, and RM350 costs. Consequently, as no payments were made, the appellant on 24 January 1996 had filed a bankruptcy notice against the judgment debtor amounting to RM229,563.68 including accrued interest thereon.

For the purposes of this judgment, it is necessary to reproduce the particulars in the bankruptcy notice:

PARTICULARS

(I) Judgment sum RM95,864.93

plus interest on RM95,864.93

at 15% per annum with

monthly rests from 1.4.86

till 24.1.96 (Interest stops RM106,863.04

running after 14.10.93)

Less Payment RM112,000.00

RM 90,727.97

(II) Judgment Sum RM 66,051.74

plus interest thereon at the rate

of 16% per annum on the

sum of RM60,000.00 from

1.4.86 until 24.1.96 (interest RM 72,433.97

stops running after 14.10.93)

(III) Costs RM 350.00

Outstanding sum as at RM229,563