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Copyright © International Chamber of Commerce (ICC). All rights reserved. ( Source of the document: ICC Digital Library )
2010 LC CASE SUMMARIES No. D1-22-2531, LEXSEE [2010] 1 MLJ 329 (High Court (Kuala Lumpur), Oct. 16, 2009) [Malaysia]
Topics: Issuer, Obligation
Article
Note: Bekalan Sains P&C Sdn Bhd (Customer) obtained a credit facility from Bank Bumiputra Malaysia Sdn Bhd (Bank) in the amount of RM8,800,000 in overdrafts, letters of credit, trust receipts, and bank guarantees. After it defaulted and the facility was renegotiated, Customer claimed that the facility included the unused portion before renegotiation. When Bank refused to agree to this claim, Customer sued it, claiming damages due to Bank's conduct. The High Court (Kuala Lumpur), Hamid Sultan, J., dismissed Customer's claim. [JEB/jdc]
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