COUNSEL & SOLICITOR:
For the plaintiff – Lim Kian Leong (Low Chi Cheng with him); M/s Lim Kian Leong & Co
High Court
CIVIL PROCEDURE: Summary judgment – Settlement agreement – Whether triable issues existed – Defendant executed Settlement Agreement to pay reduced debt but defaulted – Plaintiff terminated Settlement Agreement and reinstated original debt – Plaintiff entitled to default and penalty interest forming part of its claim – Conclusive evidence clause – Whether plaintiff was negligent in selling shares charged to it – Marginal difference in sale proceeds and defendant’s valuation of shares – Whether too minimal to attribute negligence on plaintiff
CONTRACT: Settlement – Settlement Agreement – Breach of agreement – Admissions by defendant in Settlement Agreement – Whether admissions made in the course of negotiations and hence inadmissible – Defendant acknowledged liability for reduced debt but not difference in original indebtedness and reduced debt