PROFESSIONAL NEGLIGENCE – SOLICITOR – PANEL SOLICITORS LIABLE: LITIGATION BRIEF DOES NOT EXCUSE FAILURE TO PROTECT BANK’S SECURITY
In Malayan Banking Bhd v Russell Lua Kok Hiyong & Ors [2025] 12 MLJ 599, the High Court held the bank’s former panel solicitors professionally negligent for failing to safeguard the bank’s proprietary interest in a charged property during litigation. The Court ruled that a solicitor’s duty to protect a client’s interests extends beyond the confines of a ‘litigation-only’ brief, particularly where the risk of loss is obvious and foreseeable. Limitation was held to run only when actual loss crystallised, and all partners were found jointly and severally liable under the Partnership Act 1961. The decision is a clear warning that solicitors must act proactively to protect client interests, even outside their immediate scope of instruction.
SUMMARY JUDGMENT – NO ESCAPE FOR GUARANTORS – COURT GRANTS SUMMARY JUDGMENT TO OCBC IN LOAN DEFAULT DISPUTE
In OCBC Bank (Malaysia) Bhd v Agroglobal Sdn Bhd [2025] 1 Lloyd’s Rep 558, the Singapore High Court granted summary judgment against the borrower and its guarantors, dismissing bare allegations of misrepresentation and non-disbursement. The decision reaffirmed that signed facility and guarantee documents are binding, and generic denials- absent credible evidence – will not prevent judgment. The case highlights the judiciary’s strict stance on enforcing loan agreements and signals that guarantors cannot plead ignorance of clear contractual obligations.
MAREVA INJUNCTION – FREEZING OF BANK ACCOUNT BEFORE JUDGMENT
How can I freeze a bank account? – Mareva Injunction.
COVID-19 – LOAN REPAYMENT – CREDITWORTHINESS – TARGETED REPAYMENT ASSISTANCE (TRA) – METHODS – DEBT AVALANCHE – DEBT SNOWBALL
Loan repayment, creditworthiness and how to better manage your loans
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