Our Client Alert dated 28 March 2017 (see here) discusses the significant background facts and favourable decision where the Court of Appeal established a precedent on the nature of negative pledges in loan documentation.

Unsatisfied with the Court of Appeal's decision, the Stamp Office appealed further to the highest Court in Malaysia, the Federal Court.

The Stamp Office was unsuccessful in its appeal, making the decision as discussed in our previous Client Alert, the law of the land.