Wednesday, October 15, 2008

Court orders Negri Ruler to pay up bank


It isn't everyday that a Ruler of a state is ordered by the courts to pay up a loan. Today, a precedent was set when the Putrajaya Special Court (picture) , set up to hear cases involving the royalty, ordered the former King and Yang Dipertuan Besar of Negri Sembilan, Tuanku Jaafar to pay Standard Chartered Bank about RM3.5mil to honour his commitment over a business deal. The court also dismissed Tuanku Jaafar's countersuit against the bank for a declaration that the bank was not entitled to uplift his fixed deposit to settle the outstanding loan. The court decision has certainly embarassed his Highness. Among corporate figures, many wondered how this perculiar situation has came about as the amount would be regarded as small among the rich and famous. It is often not talked about but the expensive lifestyles of some royalty members, especially the siblings, have often put a strain on the purses of several royal households.

8 comments:

Malaysian Observer said...

Excellent! This is the right message to be sent to everyone, that while some Malaysians are more privileged than others by virtue of being royalty, no one is above the law.

Bravo!

Michael Gaw said...

DEAR WONG,

WHAT IS SO SURPRISING ABOUT THE SPECIAL COURT'S VERDICT?

OUR LEADERS LIKE TO TELL THE RAKYAT THAT NOBODY IS ABOVE THE LAW. SO NOBODY IS ABOVE RTHE LAW. PERIOD.

WHAT SHOULD BE SURPRISING IS THAT THERE ARE MANY VERY SERIOUS ALLEGATIONS MADE AGAINST A CERTAIN TOP LEADER BUT TODATE WE HAVE NOT HEARD OF ANY SERIOUS AND THOROUGH INVESTIGATIONS BEING CARRIED OUT TO ASCERTAIN THE TRUTH OF THE ALLEGATIONS.

NOBODY IS ABOVE THE LAW??? I REALLY WONDER.

Pok Kam said...

At least now we can see that they (the Royalties) are not so immune as we thought they were. I feel sorry though to see a former Agong being put in a bad light.

Anonymous said...

Brave comment WCW. However be prepared to have your datukship stripped on the grounds that you have committed les majeste. Nevertheless what you said is of public interest.

Anonymous said...

never mind lah. there are enough kaki bodek who would be willing to foot the bill. in return for a datuk lah! that sounds expensive huh. shah rukh khan got it for nothing. just appearing in films the sets of which are determined by the director.

SHAKING HEADS

Anonymous said...

If this doesnt involve a foreign bank, it would have got away.
Just ask our GLC bank. CIMB!!!

With a standard water tight agreement, if our court ruled against the bank, just imaging the implicasi...

jara

Anonymous said...

There are many similar cases involving the Rulers. All swept under the carpet. This one is an exception just to send a clear message to the Rulers just prior to the Ruler's Conference. The CJ candidate requires the Ruler's conference endorsement. So now, we know why the recommended candidate is selected.
Cheers

amoker said...

You raised a good point. I did not know the reason that these was allowed to happen until i saw the statement from the Rulers conference telling Non Malays to shut up. Isn't the timing of this court ruling impeccable? And the rulers endorses the new CJ too even if he is an UMNO and works under Shahrizat. Wow.