Prime Minister Najib Abdul Razak's son, Mohd Nazifuddin Mohd Najib, had his appeal against CIMB dismissed by the High Court in Kuala Lumpur today.
Justice Ahmad Zaidi Ibrahim dismissed his appeal where Nazifuddin had stood as guarantor of a company that had defaulted on its payment to the bank.
With this, the KL Sessions Court's decision that ordered him to pay RM200,000 or otherwise – which was the sum owed by the hirer, stands.
No grounds are available as the decision was made in chambers.
Last month, it was reported CIMB demanded that Nazifuddin, who is Najib's son from his first marriage, to pay the sum after the hirer defaulted on the payment made under a hire purchase agreement.
His lawyers had argued that the bank was not entitled to claim the full amount of RM200,000, as CIMB in its letter had demanded RM12,000 from him and therefore, the bank should not be claiming the whole amount owed.
Nazifuddin's lawyers also submitted that the guarantee agreement had stated that their client's liability was limited to what was demanded.
Najib's son failed to strike out the case at the Sessions Court while CIMB obtained a summary judgment against him.
A summary judgment is where a judgment is entered by a court for one party and against another party without a full trial.
Nazifuddin was represented by lawyer Justin Voon while lawyer K Ganesan appeared for CIMB. - Mkini
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