1. ) CATALYST CAPITAL SDN BHD 2. ) DEVANG MERCHANT 3. ) THOMAS EDWARD CLARK 4. ) JOEL M BJERKE 5. ) MINAL MERCHANT v 1. ) LAUTAN VARIASI SDN BHD 2. ) SYED NASIR HUSSIN BIN SYED PEER 3. ) RAJESH BHATT 4. ) NOORHAYATI BINTI JARLILL
Catchwords
ABSTRACT Plaintiffs invested RM1.2 million in a Sabah Parks tracking system project based on false claims by defendants that the project was approved and secured. The Court found the defendants fraudulently misrepresented the project status—no agreement existed with Sabah Parks, approvals were none and promised collateral was never provided. The defendants' arguments that the agreement was illegal moneylending or inadmissible for lack of stamp duty were rejected. Directors and CEO were held personally liable for fraud. Court ordered full refund of RM1,196,191.15 plus interest and damages. KEYWORDS Investment fraud - misrepresentation - director liability - unjust enrichment - corporate veil - restitution
Judges (1)
Case Significance
1. ) CATALYST CAPITAL SDN BHD 2. ) DEVANG MERCHANT 3. ) THOMAS EDWARD CLARK 4... is a High Court (Mahkamah Tinggi) decision dated August 12, 2025 (citation: wa-22ncvc-442-06-2021). The case was decided by Arziah binti Mohamed Apandi.
Key issues: Investment fraud - misrepresentation - director liability - unjust enrichment - corporate veil - restitution.
What was the outcome of 1. ) CATALYST CAPITAL SDN BHD 2. ) DEVANG MERCHANT 3. ) THOMAS EDWARD CLARK 4...?
1. ) CATALYST CAPITAL SDN BHD 2. ) DEVANG MERCHANT 3. ) THOMAS EDWARD CLARK 4... is a High Court decision dated August 12, 2025. The case was heard by Arziah binti Mohamed Apandi. See the full judgment for details.
Judgment
Read the full judgment on the official Malaysia Courts portal.
Read on eJudgmentSource: eJudgment (wa-22ncvc-442-06-2021)