GEORGE TOWN: The RM15mil mansion of businessman Low Taek Jho in Tanjung Bungah Park is still well maintained, although the family has not lived there since he became a fugitive about seven years ago.
Introduction
The High Court in the recent case of
Ho Kean Pin v
Malayan Banking Berhad & Anor [2020] MLJU 1435
ruled that the inherent jurisdiction of the Court cannot be invoked
in favour of a successful bidder of a land purchased at a public
auction to extend the timeline for payment of the purchase price
as a result of the Movement Control Order
(
MCO ), without first ensuring that the
Chargor s interest is not in any way jeopardised by the
same.
Background Facts
The Plaintiff was the successful bidder at a public auction held
on 7.1.2020, whereby he had duly paid the deposit of 10% out of the