KUALA LUMPUR: MALAYAN BANKING BHD [] (Maybank) said the suit filed by Bistari Land Sdn Bhd against the bank and two other parties is 'without legal basis'.
'Maybank has been advised that the suit is without legal basis and has accordingly taken all appropriate action to vigorously defend its position,' it said on Wednesday, May 11.
The banking group was responding to a news report that the High Court had set Sept 21-22 to hear the RM1.3 billion suit filed by housing developer Bistari Land.
The report said the suit was filed against Maybank for allegedly appointing two receivers and managers with malice, resulting in it suffering financial losses.
'Maybank has been advised that the suit is without legal basis and has accordingly taken all appropriate action to vigorously defend its position,' it said on Wednesday, May 11.
The banking group was responding to a news report that the High Court had set Sept 21-22 to hear the RM1.3 billion suit filed by housing developer Bistari Land.
The report said the suit was filed against Maybank for allegedly appointing two receivers and managers with malice, resulting in it suffering financial losses.
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