JUDGMENT

Preliminary

[1] This judgment is prepared pursuant to s 78(1) of the Courts of Judicature Act 1964, as my learned brother, Idrus Harun FCJ has since relinquished the office of a judge under s 8C(1) of the Judges' Remuneration Act 1971. My learned sister Tengku Maimun Tuan Mat CJ, my learned brothers Mohd Zawawi Salleh FCJ and Abdul Rahman Sebli FCJ have read this judgment in draft and all of them agreed that this judgment be the judgment of the court.

Salient Facts Of The Case

[2] Bulyah Ishak and Noraini Abdullah ("the plaintiffs") are the joint administrators of the Estate of Nor Zainir bin Rahmat ("the deceased") who passed away on 26 June 2002. The 1st plaintiff is also the widow of the deceased.

[3] Pie-Con Sdn Bhd ("the 1st defendant") is a company set up under the Companies Act 1965. The 1st defendant had been wound up on 10 December 2012. Teow Beng Hur ("2nd defendant") and Narrimah Abdullah ("the 3rd defendant") are directors of the 1st defendant. Both are adjudged bankrupt. Ambank (M) Berhad ("the 4th defendant") is a licensed financial institution which registered address is at Level 22, Bangunan Ambank Group, Jalan Raja Chulan 50200 Kuala Lumpur.

[4] Pursuant to a sale and purchase agreement dated 22 December 1997 ("the SPA/P 1"), the deceased agreed to purchase a three-storey shop-office with Mezzanine Floor provisionally known as Lot 31, Jalan J9/J, Section 9, Bandar Shah Alam Selangor Darul Ehsan under Title No HDS 151345, Lot No PT 917 Mukim Bandar Shah Alam, Daerah Petaling, Selangor ("the property") from the 1st defendant. The plaintiffs claimed that the deceased had paid the purchase price in full.

[5] By a power of attorney ("PA") dated 26 April 2002 which was registered in Kuala Lumpur High Court on 30 April 2002 under Presentation No 298003/02, the 1st defendant appointed and named the deceased as the attorney of the property ("the First PA"/P2).