Federal Court Orders Public Bank To Pay RM90 Million In Damages To NFCorp, Four Others
PUTRAJAYA, June 18 (Bernama) -- The Federal Court today ordered Public Bank Berhad to pay RM90 million in damages to National Feedlot Corporation (NFCorp), its chairman Datuk Mohamad Salleh Ismail, and three subsidiary companies for breach of contract to protect their bank account confidentiality.
A three-member bench led by Chief Judge of Malaya Datuk Seri Hasnah Mohammed Hashim, Chief Judge of Sabah and Sarawak Tan Sri Abdul Rahman Sebli and Federal Court judge Datuk Abu Bakar Jais awarded RM30 million each in equitable, exemplary and aggravated damages.
'Public Bank is to pay two per cent interest per annum on the judgment sum from today until the payment of damages is settled,' said Justice Hasnah.
In delivering the court's decision, she said the appellants had presented financial reports and audited accounts through an expert witness, which were not challenged by Public Bank.
Justice Hasnah said the Court of Appeal erred when it decided that the appellants had failed to prove damages, resulting in an award of only RM10,000 in nominal damages.
On May 26, the panel overturned the Court of Appeal earlier decision which had granted nominal damages to NFCorp, Mohamad Salleh and three subsidiaries - National Meat and Livestock Corporation Sdn Bhd, Agroscience Industries Sdn Bhd, and Real Food Company Sdn Bhd.
Mohamad Salleh is the husband of former Minister of Women, Family and Community Development and Wanita UMNO chief Tan Sri Shahrizat Abdul Jalil.
Also on May 26, the Federal Court upheld the decision of the Court of Appeal, which found Public Bank liable for breach of confidentiality. The court ordered Public Bank to pay RM300,000 in legal costs. The court adjourned until today to decide on the amount of damages.
NFCorp and four others filed the RM560 million suit against the bank in 2012 over the leakage of their banking details. The High Court dismissed the lawsuit in 2019, but the appellate court in 2023 reversed the decision after allowing their (NFCorp and four others) appeals.
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