JUDGMENT

Gunalan Muniandy JCA (allowing the PO by majority):

Introduction

[1] The Appellants who were Plaintiffs in the High Court have appealed against the whole of the decision of the Learned High Court Judge ['LJ'] who dismissed the Plaintiffs' claim with costs of RM25,000.00. Thereafter, the Respondent who was the Defendant in the Court below filed a cross-appeal in respect of their Third Party ['TP'] claim.

Summary Of Facts

[2] The Plaintiffs are the trustees and the current office bearers of a society known as Persekutuan Guru-Guru Melayu Johor ['PGMJ'].

[3] PGMJ was the beneficial owner of a piece of land held under GRN No 95172 Lot 229, Bandar Maharani, Daerah Muar Johor. The Property was charged to the Defendant, as security for a loan granted by the Defendant to PGMJ.

[4] Upon PGMJ's default to repay the loan, the Defendant auctioned the Property at a public auction for RM4.9 million on 4 July 2011.